Economics professor suggests dropping two zeros from currency is less of a risk

Posted: December 31, 2013 in Iraqi Dinar/Politics
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Economist: delete the zeros from the currency less risky

30/12/2013 04:56 PM

The head of economic studies at the University of Kufa Economist Thunder Twigg, to delete two zeros off the market value of the Iraqi currency would be less risky than delete the three zeros.

He said in a press statement: Deleting zero might cash position to the previous situation in assessing wealth and assets, if you delete the three zeros that currency speculators attack would be internal and external, and you lose the basic characteristics of severability to monetary units.

He added: the three zeros deleted project will not work unless a large capital owners, make money easy to carry and will be poor and suffer from bottlenecks in trade and Exchange.

Central Bank plans more than two years ago to delete the zeros of the Iraqi dinar, to facilitate financial transactions since last year awaiting the dinar restructuring plan to supply the market with more liquidity. But the Cabinet decided to stay the proceedings relating to the deletion of zeros from the dinar until further notice.


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