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Thread: Iraq Bank Expert - Deleting of 3 zeros from Currency will have postive impact

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    Nance
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    Iraq Bank Expert - Deleting of 3 zeros from Currency will have postive impact

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    BAGHDAD (Iba) ..

    5.9.2010

    Iraqi bank expert said that the process of deleting three zeros from the Iraqi currency will have a positive impact on the Iraqi economy to Tahedvh of an amendment to the conditions of the Iraqi currency in general.

    Said Abdul Aziz Hassoun in contact with the agency, the independent press (Iba) "Many countries have taken action himself, including Turkey, which deleted six zeroes from the currency, and therefore the right of the Iraqi Central Bank could adjust the exchange rate this way, especially since there is a difference large numbers no longer reflects the value of domestic production of Iraq. "

    "If the exchange rate is adjusted properly the matter would be meaningful as a whole, especially the central bank set the mechanisms and plans for the replacement of banknotes in another new value and the form and a suitable period to allow replacement of all their bank notes."

    The members of the Economic Commission in the previous parliament urged the central bank and Ministry of Finance to address what they described as Baltrhl cash Iraqi funds by raising three zeros from the currency.

    He Hassoun that the process of lifting the three zeros from the currency will have a significant impact on the Iraqi market because the dinar would be equivalent to one thousand dinars currently, adding that the process will be of positive influence to support the economy of Iraq through the central bank's plan to strengthen the Iraqi currency exchange rate.

    He did not specify when the central bank will be picked up the implementation process, while some media sources leaks about the impossibility of implementation of the Central Bank for this operation is to Ststensvh financial resources and enormous economic cadres.

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