Monday, November 16, 2015

The Central Bank Of Iraq Are Deleting The Zeros 11/15/15, 16 NOV

Alsumaria News / Baghdad
The Central Bank of Iraq, Sunday, that the issuance of 50 thousand dinars category paves the way for the deletion of zeros from the currency, and among it will reduce the demand for the dollar, he pointed out that there is no link to the financial crisis with the new version.

A member of the Board of Directors of the Bank Ihsan al-Yasiri in an interview with the program "a quarter of an hour," which aired Alsumaria TV, "The issuance of 50 thousand dinars category and think about the issuance of 100 thousand dinars category is a project that is not fortuitous, but put up since 2007," attributing the release as " there is a problem in banknotes sequence as the highest category of cash (25 thousand dinars) equal to $ 22 and are therefore inadequate for transactions. "

The Yasiri, that "the issuance of the new currency will facilitate a lot of transactions, and will contribute to reducing the demand for the dollar, at least in transactions," stressing that "no income for the government to issue category, not to project any connection with the financial crisis or deflation and inflation."

He explained Yasiri, that "issuance of 50 thousand dinars category, and our thinking by issuing 100 thousand dinars category is one of the preliminary steps for the project to delete the zeros", adding that "the project to delete the zeros needs to be action extends for more than a year."

On the other hand, stressed Yasiri, "not to the federal government's ability to withdraw funds from the reserve which is the cornerstone of the bank", pointing at the same time to "the existence of alternative solutions to the financial crisis experienced by the country."

The central bank announced (November 11, 2015) for issuing a new banknote category of 50 thousand dinars, attributing this to the completion of the Iraqi Securities monetary structure and the development of high value in the trading category.

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