14/07/2012Iraq: delete the zeros of the local currency starting next year
The parliamentary Finance Committee, Saturday, that the process of replacing delete zeros from the currency and will be gradually beginning next year, noting that the process takes two to three years.
Member of the Committee and the Iraqi list MP Hassan aozmn news agency of Kurdistan (aknews) that the Central Bank of Iraq will drag the current currency next year start gradually and keep the current currency trading to give citizens sufficient time to Exchange ".
He aozmn Exchange and delete zeros successful and useful for the Iraqi economy through its success in several other countries, pointing out that "process will contribute to ease carrying banknotes to the citizen and will not have any negative impact on the economy (according to him).
He did not rule out aozmn new counterfeiting attempts but: security measures to be taken to protect the currency would distinguish easily between the old currency and the new currency.
The parliamentary Finance Committee announced early this month that next year's budget in the new currency will be 2013 after deleting three zeros from the current currency, saying that the reluctance of traders and trading companies behind the Iraqi currency the Central Bank adopted draft delete zeros.
Some economists believe that Iraq is not formatted for the time being to delete the zeros of the Iraqi dinar, noting that deletion requires political stability and security as well as economic stability.
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