Thursday, May 21, 2015

Iraqi Dinar Would Get Strength From Large Currency Printing : Finance Committee, 21 MAY

On Monday, the Iraqi Parliamentary Finance Committee announced that the Iraqi Central Bank is working very hard to empower the Iraqi dinar by printing large amount categories of Iraqi currencies. A member of the Parliamentary Finance Committee Majda Al Tamimi issued a statement that the main reason behind the weakness of Iraqi dinar against the U.S dollar is due to the amount or quantity of demand and supply of money and difference between official U.S dollar prices against Iraqi local market prices of the U.S dollar.
She also pointed out that some months ago; there was a project which discussed on most of the platforms to strengthen the Iraqi dinar currency by implementing the project of elimination of three zeros from the Iraqi currency, but this project has been postponed due to Iraqi internal economic and financial conditions, and poor security situation in Iraq. Majda further explained that the most perfect solutions according to the situation for strengthening the Iraqi dinar is printing new large amount categories of Iraqi dinar currencies of 50,000 Iraqi dinars and new printing of 25,000 currencies with some most secured featured. It would also help the Iraqi banking sector in order to handling and traveling one place to another.

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