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Director of Bank Assoc.: Excludes revaluation by deleting three zeros
October 4th, 2011 06:41 am
Baghdad (news) .. The director of the Association of private banks Abdul Aziz Hassoun that the project to delete the three zeroes from the Iraqi currency is simply a modification of the categories of cash and is not intended to raise the Iraqi dinar exchange rate against the dollar or other currencies, pointing out that the strengthening of the currency comes through security and stability and increasing domestic production in the country.
He said Hassoun, a reporter for the Agency (news) on Saturday: the project to delete the three zeroes from the Iraqi currency intended to modify the denominations do not is not to raise the price of the Iraqi dinar exchange and support, and continued as long as there is no local production is real and security stability in the country it is difficult to raise the price of exchange of the dinar.
Hassoun and expressed concern that the project is accompanied by the deletion of zeros of some negative aspects such as what happened in the year (2004), the project likely to affect prices in the market, stressing at the same time that its impact will be in my time on the consumer until the stability in the circulation.
The Director of the Association of private banks: There was a proposal could be altered some of the large groups of the coin instead of the currency completely, but there are different points of view other that there is significant inflation in the amount of currency in circulation and are aiming to reduce to the extent reasonably possible, and called to have a production of a national real and the Iraqi dinar in order to be an international currency are treated abroad.
The Central Bank of Iraq has confirmed that the new currency will be printed in three languages Arabic, Kurdish, English for the application referred to by the Iraqi constitution, noting that the old currency will be dispensed gradually.
The Advisor to the Central Bank of the appearance of Mohammed Saleh said earlier in (the news): The new currency will work in three languages: Arabic, Kurdish and English, the real opportunity to apply what was referring to the Iraqi constitution, stressing that the aunt of old has not been canceled but will be dispensed gradually and work together with the new currency.
Saleh pointed out that there is no difference and disagreement about the rights of the exchange rate and purchase, noting that when we want to buy the rotor b (1200), we will buy dinars Bdenaro (200) fils.
He added that the project to delete the zeros approved by the Department of the Central Bank has been forwarded to the Council of Ministers and House of Representatives, explaining the government’s approval if it will work by hand.
The central bank adviser that the purpose of the project to delete the zeros of the three is to reduce the large numbers that we are exposed by Bataamlat that reach trillions, and shorten the blocks of cash without disparage and wealth or income, they are all be fixed.
And that the project will be working gradually, and differs from the previous project, which began at the end of the year (2003) and continuing until the end (2004), is most probable that this project will take Nada time broader and continue to the year and thus we note that the old currency will gradually disappear.
The project to delete the zeros of the three is the restructuring of the Iraqi currency and start a new currency system is the replacement of categories (250.500) JD currencies metal to facilitate a lot of things.
Director of Bank Assoc.: Excludes revaluation by deleting three zeros
October 4th, 2011 06:41 am
Baghdad (news) .. The director of the Association of private banks Abdul Aziz Hassoun that the project to delete the three zeroes from the Iraqi currency is simply a modification of the categories of cash and is not intended to raise the Iraqi dinar exchange rate against the dollar or other currencies, pointing out that the strengthening of the currency comes through security and stability and increasing domestic production in the country.
He said Hassoun, a reporter for the Agency (news) on Saturday: the project to delete the three zeroes from the Iraqi currency intended to modify the denominations do not is not to raise the price of the Iraqi dinar exchange and support, and continued as long as there is no local production is real and security stability in the country it is difficult to raise the price of exchange of the dinar.
Hassoun and expressed concern that the project is accompanied by the deletion of zeros of some negative aspects such as what happened in the year (2004), the project likely to affect prices in the market, stressing at the same time that its impact will be in my time on the consumer until the stability in the circulation.
The Director of the Association of private banks: There was a proposal could be altered some of the large groups of the coin instead of the currency completely, but there are different points of view other that there is significant inflation in the amount of currency in circulation and are aiming to reduce to the extent reasonably possible, and called to have a production of a national real and the Iraqi dinar in order to be an international currency are treated abroad.
The Central Bank of Iraq has confirmed that the new currency will be printed in three languages Arabic, Kurdish, English for the application referred to by the Iraqi constitution, noting that the old currency will be dispensed gradually.
The Advisor to the Central Bank of the appearance of Mohammed Saleh said earlier in (the news): The new currency will work in three languages: Arabic, Kurdish and English, the real opportunity to apply what was referring to the Iraqi constitution, stressing that the aunt of old has not been canceled but will be dispensed gradually and work together with the new currency.
Saleh pointed out that there is no difference and disagreement about the rights of the exchange rate and purchase, noting that when we want to buy the rotor b (1200), we will buy dinars Bdenaro (200) fils.
He added that the project to delete the zeros approved by the Department of the Central Bank has been forwarded to the Council of Ministers and House of Representatives, explaining the government’s approval if it will work by hand.
The central bank adviser that the purpose of the project to delete the zeros of the three is to reduce the large numbers that we are exposed by Bataamlat that reach trillions, and shorten the blocks of cash without disparage and wealth or income, they are all be fixed.
And that the project will be working gradually, and differs from the previous project, which began at the end of the year (2003) and continuing until the end (2004), is most probable that this project will take Nada time broader and continue to the year and thus we note that the old currency will gradually disappear.
The project to delete the zeros of the three is the restructuring of the Iraqi currency and start a new currency system is the replacement of categories (250.500) JD currencies metal to facilitate a lot of things.