Central Bank underlines the need to delete the zeros and the issuance of new currency in three languages Editor: SS | SZFriday, 02 September 2011 12:30 GMT27,237http://alsumarianews.com/ NewsDetailsAlsumaria News / Baghdad
renewed the Central Bank of Iraq, Friday, reiterated the need to delete the zeros and the issuance of new currency, considering that there is a need of substantial monetary fill dealings great addition to the existence of currencies is small, while noting that the new currency will be in three languages. The deputy governor of Central Bank of Iraq the appearance of Mohammed in an interview for "Alsumaria News", "installation of the currency in which defect, as the largest category of the Iraqi currency is now worth $ 21, and therefore resort traders and senior traders to dealing in cash to the United States and the hundred-dollar specifically, and For example, if I gave them $ 10 they do not accept it. " Saleh said that "this issue if it continues like this with the development of the economy and growth will be disabled, and therefore must restructure the currency and the deletion of zeros at the same time." Saleh added that there is a "need to small denominations of currency represented by coin of the transactions small and large groups to meet the trading large cash that is prepared in the first class institutions in the world and a world-class, "pointing to" the lack of the possibility of printing the currency in Iraq after taking this experience several problems during the nineties of last century ". and already the oldest of Iraq to print its currency within the country after the economic blockade imposed on it following the occupation of Kuwait in 1990, which saw the Iraqi market, inflation is not unprecedented, as well as the increasing cases of counterfeit currency at the time because of the lack of international standards sober in printing. Salih noted "This new currency will carry the three languages are Arabic, Kurdish and English, and we know that the Swiss currency with four languages," stressing that "the currency symbols will be a national legacy of the Iraqi civilization, which extends eight thousand years, and therefore reflect the Iraqi nation a hundred percent," . and the previously announced Central Bank of Iraq on 23 June for his willingness to delete the zeros of the Iraqi currency, and as he emphasized that this step is one of the strategic functions of the Bank, pointed out that the new currency will contain on the Kurdish language in addition to Arabic. The Advisor to the Prime Minister for the Economic called in the 25 of a father present, the Iraqi Central Bank to stop the action to change the currency, warned of "mafias currency" is preparing to rig the trillions of dinars exploited to change the currency, as he emphasized that it will result in a mass of cash huge hard face. referred to the specialists the Iraqis in the field of economy have reduced the impact of the central bank to delete zeros from the currency the purchasing power of the Iraqi dinar, also hopes the government from behind the move, as seen researchers that the cost of raising the zeros will be the biggest of its usefulness, given that the currency's strength is measured by the stability of disbursement, which is based on the strength of the productive sector capable of providing goods and services. The Iraqi Central Bank Governor Sinan Shabibi said at a meeting of independent bodies with Prime Minister Nuri al-Maliki, who held, in the 19 of June, and, ready to create all the supplies to replace the Iraqi currency. Woe to the Iraqi Central Bank has four branches in Basra and Sulaymaniyah and Erbil and Mosul, which was established as a bank independent Iraqi under the law of the Central Bank of Iraq issued on the sixth of March 2004, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign reserves and the issuance of currency management, as well as to regulate the banking sector.
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