Economist: Timing is right to delete the three zeroes from the currency

Posted: December 5, 2013 in Iraqi Dinar/Politics
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05-12-2013 10:00 AM

Baghdad (news) .. Said economic expert Dargham Muhammad Ali, to the present time appropriate for the application of the project to delete the three zeroes from the Iraqi currency, the fact that the exchange rate of the dinar relatively stable during the current period.

said Mohammed Ali (of the Agency news): that the exchange rate of the dinar against the dollar relatively stable over than ever and can be initiated by replacing the currency in this circumstance the existence of the cover of foreign currency for the local currency within the monetary reserves of the Central Bank. , and continued to be a transitional period of not less than two years are traded on the two currencies together and start a promotional campaign expanded for the new currency and its importance in restructuring currency bloc in the Iraqi market and converted from the figures Altrliunah to figures Alumblyaria.

pointed out: that the new currency ‘demilitarized zeros’ is best in terms of approach, with the dollar and is in compliance with Mndoma currency in the region, where the intervention of all within the existing equivalent of the dollar and its derivatives from the ranks per decade.

He added that the central bank is linked to coordination with the governmental institutions and the private sector to encourage the promotion of the new currency in the market, such as incentives to accept and disburse and give discounts in some institutions of Msddan the new currency, which accelerates the transformation process has run smoothly and without the complexity and ensures no impact on the local market and the lack of tremors inflationary is calculated.

mention that the administration of the Iraqi Central Bank current ruled out the application of the project to delete the three zeroes from the local currency in early 2014, despite the fact that the previous administration of the bank had identified the date of implementation of the project early next year.

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