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Sunday, December 2, 2012

Economic parliamentary: the new year will witness the birth of the new Iraqi currency, 2 DECEMBER

Economic parliamentary: the new year will witness the birth of the new Iraqi currency



SUNDAY, 02 JANUARY 1 / DECEMBER 2012 09:45 

Twilight News / excluded for economic and investment commission parliamentary, Sunday, that the new year would witness the birth of the new Iraqi currency deleted three zeros, noting that the Central Bank of Iraq was aspires to equal the value of one dinar per dollar.

He said the Commission's decision Mahma Khalil in an interview with "Twilight News" that "the new year will witness the restructuring Iraqi currency deleting three zeros, and therefore would not be witnessing the birth of new Iraqi currency because of the government's refusal to this project," noting that "the government believes that this work is not of its priorities. "

Khalil added that "the economic and investment commission strongly supported this project with the Governor of the Central Bank because the purpose of it purely economic and is to maintain the Iraqi currency from counterfeiting, damage and fraud."

Khalil pointed out that "there was countries with successful experiences in this area and the re-structure of its currency and deleted some zeros, and we seek to follow suit."

Khalil said he was "under Article 46 of the Law on the Central Bank of his powers to issue new currency or new categories and maintain the value of the Iraqi dinar against other currencies."Khalil continued that "the very bank of the move is that the par value of the Iraqi dinar per one U.S. dollar after the deletion of zeros and are blocking the way of fake currency dealers, as well as the new currency was non-perishable easily."

Referred to the Central Bank of Iraq began Consideration of an amendment dinar categories last year, and is still a big part of the payments being in cash due to the evolution of the banking system.

The Cabinet had decided, in mid-April last year, wait in the application of the deletion of zeros from the national currency.

And revealed the Finance Committee in the House of Representatives, last July, the postponement of the deletion of zeros from the Iraqi currency, which the central bank intends to initiate them into the year 2014.

http://bit.ly/TvzJ7e
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SHREDD OPINION: 

"...the central bank intends to initiate them into the year 2014." I hear you but the phrase "initiate them into" seems to imply a process, not a singular event.

BLD OPINION: 

the thing was it had been floating all these years...a dirty float...cbi never did change that even when the rate was programmed the dinar behind the curtain imo kept on moving slowly... but it still gained strength....cbi never changed its path it was on gurus an speculators did that........its time to stop that and grow on up imo...BL

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