Central Bank of Iraq denies planning to develop a currency class 100 thousand dinars

[RVDinar4MyFamily]

Central Bank of Iraq denies planning to develop a currency class 100 thousand dinars

23/12/2010 14:56

Baghdad / 23 December (Rn) - denied the Iraqi Central Bank, on Thursday, planned at this time to develop a coin 100 thousand dinars, equivalent to the category of $ 100 U.S. as hyped.

The adviser said the Central Bank of Iraq the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the Central Bank of Iraq is not thinking in the development of a new currency of the class 100 Iraqi dinars, equivalent to U.S. $ 100 bills, the fact that it is not an economic necessity."

The reports stated that the new Iraqi government destined for the development of a new currency from the category of 100 thousand dinars, but that the benefit referred to "the existing currency will remain stable until the economic situation in Iraq and then we can think of to raise three zeroes it."

In the opinion of specialists, the process of lifting the zeros from the currency local technical issue, but it will address the inflation suffered by the Iraqi market in general economic and state institutions in particular.

The central bank adviser said that "the development of a new currency will disrupt the market and the value of the Iraqi dinar in an economic quandary large."

The local Iraqi currency has gone through several changes in its history, most recently in 2004 when the former Governing Council replaced the previous currency, which was a symbol of the former regime.

http://www.aknews.com/ar/aknews/2/204868/

Economists: The version of class 100 thousand dinars will not benefit the Iraqi economy

22/12/2010 19:09

Arbil, 22 December / December (Rn) - Economists believe the Iraqi province of Kurdistan, said the issuance of currency from 100-thousand Iraqi dinars, will be in the interest of the country's economy, the trading will not end U.S. dollar in business transactions, but will increase the chances of corruption.

It was an economic advisor at the CBI, the appearance of Mohammed, has recently announced that "the central bank intends to issue a currency of class 100 000 Dnyar, in order to encourage citizens to deal in the currency of Iraq, they are dealing in U.S. dollars more than their dealings in the local currency, due to ease of handling by compared to the currency of the country. "

The economist said Aram Ahmed, a Kurdish news agency (Rn) that "the policy of Central Bank of Iraq is not successful, and the issuance of currency from a 100 thousand dinars will not add anything to the country's economy, it is better for the central bank pumping in small denominations of currency as a group JD 50 and less to the market, and cut the road to higher prices, which offered Iraq to price inflation. "

Ahmed said he was "not able to the central bank to prevent trading in the currency of the U.S. dollar, as it did not Taatkmen two States, China and Japan to pursue this policy," noting that "all that there is an interest of some people in the central bank and behind the subject, but do not have any economic benefit of the country, and the financial revenues of Iraq come from petro-dollar funds, so the issuance of currency, the 100 thousand Dnyar will cause an increase opportunities for corruption. "

A member of the Syndicate of Economists of Kurdistan, north-Nouri, L (Rn) that "the issuance of currency or else a 100 thousand dinars, will hurt the Iraqi economy, because the Iraqi market is suffering from inflation already," adding that the aim of issuing this category of the currency, rather than strengthening the economy the country, but corruption and take advantage of some persons, of the contracts to be concluded to print that category, with private companies in this area. "

The Nuri said, "Iraqi currency from the two categories of 25 010 الاف had caused inflation, while there is talk of issuing 100-A as well," pointing out that "the citizens expect the government to tackle inflation and not further escalation."

http://www.aknews.com/ar/aknews/2/204696/

Edited December 23, 2010 by RVDinar4MyFamily

[behaviorkat]

[TimS]

Something is either lost in translation or this is just mis-direction, mis-information junk before the real stuff happens JMO

[michelneedsRV]

Good find. I dunno what's the problem of saleh, I don't think he's in any way related to CBI or it;'s entity.

Michel