Iraqi Dinar Discussion Board

[Aerospace]

More... Central: the deletion of zeros Iraqi currency.

Advisor, Central Bank of Iraq the appearance of Mohammed Saleh, said that the deletion of zeros from the Iraqi currency will depend on the long-term monetary policy, indicating that this step requires the issuance of laws and legislation before the foot as part of the strategy for the management of the currency in Iraq.
The appearance of Mohammed Saleh, said that the need to delete the zeroes come from the "Iraqi currency bloc, which has become very large which is the product of inflationary phase lasted about 30 years rose from 25 billion to 21 trillion," he said, adding that "the largest category of cash is 25 thousand dinars, equivalent to 23 dollars, while the largest category in 1979 and the period that preceded the Iraq-Iran war and 25 dinars, equivalent to $ 75 at that time, "Today," the largest category of 25 thousand Iraqi dinars Atadl only 23 dollars in the currency of the youngest we have is 250 dinars, "and will allow the process of deletion" reduce the size of the currency bloc's cash, meaning that the paper of a thousand dinars and the dinars to become one, this means shortening the 21 trillion to 15 billion dinars, with the metal coins and small groups. Salih pointed out that the strategy aimed at the central measures "consistent with the Constitution and the economic life of good and facilitate intra-group transactions," noting that "part of the margin of the inflation rate between 1-3% is the responsibility of a large number of cash transactions is a cost in the case of deletion of that cost would be less ". On the continuing high prices despite the official figures indicate that the inflation rate to decline in favor said that "monetary policy is not concerned that the prices are back to square one, but aimed at reducing the rates of increase in prices, which were the limits of 32% in 2007, and today it fell to the increases one decimal order of the limits of 7% only, "saying the figure" a victory for Iraq's economic program, as there is no task for the central Iraqi stabilization only in the overall level of prices and stability of the financial system. "

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.iraqdirectory.com/DisplayNewsAr.aspx%3Fid%3D10160&rurl=translate.google.com

This is exactly what I've been saying for years. The inflation that destroyed the dinar was over a 30 year period. They will introduce a new currency. 1000 old for 1 new, 3 zeros gone, 21 trillion will be reduced to 15 billion. That means there are 6 trillion dinars out there that they don't expect to get exchanged. Hmmmmm... Where do you think those 6 trillion that will be excluded are?