Sources: Central Bank began printing Iraqi currency after deletion of zeros

Tuesday, March 20, 2012

BAGHDAD / Baghdadiya News / .... sources from within the Central Bank of Iraq that the latter already begun the contracting process to print a new Iraqi currency after deleting three zeros of which,

Pointing out that the central bank just waiting to give him the green light if there were objections to the drawings and designs.

The sources indicated in comments summarized by / Baghdadiya News / "The central bank introduced a draft law to delete the zeros to the Chairman of the House of Representatives Osama Najafi, and ensure that everything about this great project which will start work by the process of offering the new currency for circulation early next year, and will continue to drive the replacement of three years.

"The House of Representatives has no objections to the project except the subject of graphics that will come within the designs, adding there are those favored by nature and one favored by Islamic history, stressing that the initial indications stating that everyone agreed on the historic monuments in Iraq.

And was a member of the Economic Commission parliamentary Nora Salem Albjara described in a statement to / Baghdadiya News / replacement process and delete three zeros to "step" that Iraq must start with, but for many reasons, including elimination of the problems of the current currency, especially after the emergence of the phenomenon of counterfeiting of currency from the category of the ten thousand dinars. "

She said also that "the restructuring of the currency has become an urgent need now, it is reasonable to continue the circulation of currency issued in times of Iraq was then suffering from inflation and the deterioration of Danarh, and this has increased the amounts of money in circulation in the market."

She said "Iraq is currently trading at least 33 trillion dinars, and this is a very huge amount causes a lot of confusion in cash transactions, and more effort and time and a lot of risk in carrying large amounts of banknotes in the pocket, and this is why the Iraqi citizen of the tendency to deal in dollars, to become the market dollarized the Iraqi market, and must be maintained on the national currency.

It showed that "new dinar will be printed also groups as large as the 100 dinars, equivalent to the current currency 100 thousand dinars, as well as 50 dinars and twenty-five and categories of the youngest is ten dinars, five dinars, which without it would be a coin will be the favorite being the most traded in return will not be worn out." Atney / 27

Link