Palm - Deputy Governor of the Central Bank of the appearance of Mohammed Saleh said that the bill included proposals for a new currency and the categories that bear and details of technical and economic.
Saleh pointed out during the permit media changing the currency and delete zeros decision taken by the executive and approved by the legislature, and that the project will not be implemented hastily, but will be taken a number of factors to consider before you start to implement it, including the date of the financial year and the strength of the national economy, among other indicators in the favor of the view that This law, if approved, will have a positive impact on the Iraqi currency in several aspects you need during the next phase, which will strengthen the value of the Iraqi currency.
He described the favor of a system of cash payments of the current Iraqi regime miserable, noting that the largest denomination in which value does not exceed twenty dollars, confirming that the deletion of zeros will enhance the value of the Iraqi currency, and reduces the cost of handling cash, The currency in its present estimated size of today Petrlionat dinars, making the process of dealing monetary cost is high.
And the concerns of rigging the new currency in the event issued or it will affect negatively on the economic situation, responded in favor: it reflects the look bleak, do not forget that there are other countries in deciding to switch its currency and dropped them zeros, such as Turkey, Romania and Brazil without being its economy to shocks and thus Iraq is not unknown or running water moving in path not knock him one before is likely to include the new currency for the inhabitants of a coin by the paper.
The increased zeros on the Iraqi dinar to the days of inflation, which came on the value of the Iraqi currency as a result of previous wars and the subsequent economic blockade was over, the currency of Iraq to the paper was printing the former regime, issued in large quantities without a cover, while the Iraqi dinar until the mid-eighties equivalent of more than three U.S. dollars.
But the adviser to Iraqi Prime Minister for Economic Affairs Abdullah Al-Hussein Anbuge said in a press statement: that the rampant corruption in state institutions and the low level of efficiency and economic situation in general in this time is not in favor of lifting the zeros.
He pointed to what he said about it bumps will change the currency and delete zeros, including the risk of fraud and increase the demand for goods causes a fake due to payment of dinars instead of a thousand dinars, as now, explaining that the re-printing of new currency will have the costs of expensive, adding that attempts will be made to persuade the Bank Central to wait in his plans in this regard.
Previously Chairman of the JSC confirmed that Iraqi, earlier, to delete the zeros of the Iraqi currency will not affect the circulation of the Iraqi Stock Exchange and its shares
The director of a money transfer companies abroad Sami Rashid: I think that the lifting of the zeroes from the currency will increase confidence in the currency, and will lead to increased purchasing power of citizens, and will drop the phenomenon of trading blocs, the large cash used by the Iraqis since the nineties.
He believed economic analyst Talal Jassim said the switch of the Iraqi currency a necessary but pointed to the need to provide the conditions necessary for its implementation, particularly the security and political stability, adding that the relative stability of the Iraqi currency after the issuance of currency recently, and the result of the return link Iraq to the global economy and the availability of reserves of foreign currency due to oil exports , encouraged the central bank to consider deleting the zeroes.
Jassim added that lifting the three zeroes will lead to an exchange rate of one dollar per dinar to where Jassim called to the need to follow the policies of peaceful citizens to convince them and get a feel for a period not exceeding two years.
didn't see this already posted. apologies if it is. found this a bit interesting. good or bad???