Iraqi Currency Change Does not have effect on Value of Dinar

[Great199]

Karbala (NINA) - Economy expert said "Iraqi currency change does not have any effect on the value of the Iraqi dinar and economy.”

Alaa Farhan, Dean of Admin and Economics Faculty at the University of Karbala, told NINA correspondent today "the impact of changing the Iraqi currency on economy is very limited because the Iraqi dinar’s value is linked to economic development, not the currency only."

He added "the economic development is limited and covers agricultural, industrial, commercial and other aspects."

"Therefore, we find that the impact on the value of the Iraqi dinar is very weak, the process of changing the currency in terms of size, figures and the nature of the paper and texture as the existing currency are in different sizes and therefore must be in one size that could be used in ATMs," he explained.

"The U.S. currency, the dollar, is in the same size and from the same pulp, which facilitates using it in ATMs,” he concluded. /End

[drummerboy]

ya ok.. What ever he says, Not!

Thx for the post. Got to love these people (the Iraqi's that is)

[steveflex7]

This article might be true if Iraq was considered a regular country with limited resources, but wait, they have the most abundant oil reserves in the world and they have the worlds purest gold....this alone will drive the currency...not development...so take that Alaa !

[Dinar Buddy]

Bogus news. Where is the link?? Let's make sure we check the link creator to confirm it us true.

We are watching.

[Dalite]

Entirely accurate.

A RD is revenue neutral. The currency gains strength, but the purchasing power is not affected..