http://www.alaalem.com/index.php?aa=news&id22=6468
An Iraqi official announced the adoption of a new strategy intended to raise the value of the Iraqi dinar against foreign currencies
2010/9/10
The chancellor said the Central Bank of the appearance of Dr. Mohammed Saleh in a statement: "I've been working for years to improve the value of the Iraqi dinar exchange, and was taking several measures until we came to the stability of its value at 1170 dinars to the dollar."
He explained that he had talked with some fluctuations up and down according to the impact of the overall situation in Iraq in the absence of stability.
Reform Progress
He disclosed that the new strategy has begun the reform of management system of the national currency and payment system of Iraq, said that this will be the basis in the application of Istratejp to reform the currency. The Iraqi official was likely that these steps will take a year or more.
On the zeros added in the Iraqi currency, which made the value of the disbursement of land, Saleh said that the zeros added that high inflation rates since the Iran-Iraq war and the subsequent siege and invasion, and thus doubled the cash block several times.
In 1990, the cash block of 28 billion dinars, and became a six trillion dinars in 2003, and now stands at 25 trillion dinars. He said that this has become necessary to change the payment system because of the Iraqi economy on the verge of developing and producing oil major which leads to a large expenditure.
According to the adviser at the CBI, the new strategy will transform the current monetary mass (25 trillion dinars) to $ 15 billion through the adoption of coins and the smaller Iraqi currency.
And the ability to withstand the Iraqi dinar against foreign currencies, Saleh said that "the Iraqi economy is strong and has great resources to qualify to stand in front of foreign exchange if there are economic and monetary policy is correct, and political and economic stability and security." He expressed optimism that the Iraqi economy will recover, which is reflected in the rise of the dinar against foreign currencies.
Relative stability
For his part, said a banking expert, Mohammed al-Samarrai said the Iraqi dinar is witnessing a relatively stable for the time being, and security conditions influenced the rise and a slight decrease is not as great as in the past.
He assured the island revealed that the dinar is witnessing now balanced and influenced by a simple economic decisions and the political right in the exchange rate, no prejudice was balanced.
He hoped that the high value if foreign investors have entered the Iraqi market, or if there is openness towards the private sector. He called Samurai to the reconstruction of the many industrial projects that have been stalled as a result of the blockade and invasion which led to the destruction of industrial facilities equipment.
He pointed to the neglect of a giant 36 factories in the past seven years. And the actions necessary to raise the value of the dinar against foreign currencies, "said Samarrai, including the stability of security and political situation, and make decisions and laws that encourage the private sector and supported by, and encourage the entry of foreign and domestic investment, and encourage the return of talent to rebuild it.
Surplus oil
The Iraqi banking expert Mohamed Kamel Hussein said that there was a perception among the Iraqi Central Bank to raise three zeroes from the value of the dinar, by issuing a new currency to improve its value.
However, he believed that the lifting of the three zeros will not change anything because the factors affecting the exchange of the dinar against foreign currency depends on the surplus that is supplied by oil revenues.
And provides lift the productive capacity of large oil revenues diminish the value of inflation, and thus raise the value of the dinar by providing a surplus of foreign currency.
The exchange value of the Iraqi dinar was the strongest region in the late seventies of the last century, but began to decline during the Iran-Iraq war before it could hit the siege.
Have fallen to their lowest levels during the U.S. invasion in 2003, amounting to U.S. dollar exchange rate four thousand Iraqi dinars.
An Iraqi official announced the adoption of a new strategy intended to raise the value of the Iraqi dinar against foreign currencies
2010/9/10
The chancellor said the Central Bank of the appearance of Dr. Mohammed Saleh in a statement: "I've been working for years to improve the value of the Iraqi dinar exchange, and was taking several measures until we came to the stability of its value at 1170 dinars to the dollar."
He explained that he had talked with some fluctuations up and down according to the impact of the overall situation in Iraq in the absence of stability.
Reform Progress
He disclosed that the new strategy has begun the reform of management system of the national currency and payment system of Iraq, said that this will be the basis in the application of Istratejp to reform the currency. The Iraqi official was likely that these steps will take a year or more.
On the zeros added in the Iraqi currency, which made the value of the disbursement of land, Saleh said that the zeros added that high inflation rates since the Iran-Iraq war and the subsequent siege and invasion, and thus doubled the cash block several times.
In 1990, the cash block of 28 billion dinars, and became a six trillion dinars in 2003, and now stands at 25 trillion dinars. He said that this has become necessary to change the payment system because of the Iraqi economy on the verge of developing and producing oil major which leads to a large expenditure.
According to the adviser at the CBI, the new strategy will transform the current monetary mass (25 trillion dinars) to $ 15 billion through the adoption of coins and the smaller Iraqi currency.
And the ability to withstand the Iraqi dinar against foreign currencies, Saleh said that "the Iraqi economy is strong and has great resources to qualify to stand in front of foreign exchange if there are economic and monetary policy is correct, and political and economic stability and security." He expressed optimism that the Iraqi economy will recover, which is reflected in the rise of the dinar against foreign currencies.
Relative stability
For his part, said a banking expert, Mohammed al-Samarrai said the Iraqi dinar is witnessing a relatively stable for the time being, and security conditions influenced the rise and a slight decrease is not as great as in the past.
He assured the island revealed that the dinar is witnessing now balanced and influenced by a simple economic decisions and the political right in the exchange rate, no prejudice was balanced.
He hoped that the high value if foreign investors have entered the Iraqi market, or if there is openness towards the private sector. He called Samurai to the reconstruction of the many industrial projects that have been stalled as a result of the blockade and invasion which led to the destruction of industrial facilities equipment.
He pointed to the neglect of a giant 36 factories in the past seven years. And the actions necessary to raise the value of the dinar against foreign currencies, "said Samarrai, including the stability of security and political situation, and make decisions and laws that encourage the private sector and supported by, and encourage the entry of foreign and domestic investment, and encourage the return of talent to rebuild it.
Surplus oil
The Iraqi banking expert Mohamed Kamel Hussein said that there was a perception among the Iraqi Central Bank to raise three zeroes from the value of the dinar, by issuing a new currency to improve its value.
However, he believed that the lifting of the three zeros will not change anything because the factors affecting the exchange of the dinar against foreign currency depends on the surplus that is supplied by oil revenues.
And provides lift the productive capacity of large oil revenues diminish the value of inflation, and thus raise the value of the dinar by providing a surplus of foreign currency.
The exchange value of the Iraqi dinar was the strongest region in the late seventies of the last century, but began to decline during the Iran-Iraq war before it could hit the siege.
Have fallen to their lowest levels during the U.S. invasion in 2003, amounting to U.S. dollar exchange rate four thousand Iraqi dinars.
