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Reports Monetary policy to delete the zeros of

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Marcelno   Thursday, 02/04/10 12:55:08 PM
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Reports
Monetary policy to delete the zeros of the Iraqi currency

02/02/2010
Mohammad Karim
Iraqi Central Bank is working on a strategy to delete the zeroes of the Iraqi currency in and out of their face value while maintaining the values of cash and purchasing power.
Central Bank of Iraq adviser to the appearance of Mohammed Salih said that this year will witness the launch of this strategy, stressing that the bank has completed 50% of the preparations that are working on since 2005.
Salih said the strategy was based on the principle of gradual substitution of the Iraqi currency with another is lower than in the nominal value, and pointed out that the positives of this strategy is that it will be less expensive and easier to trade.
For his part, sees Dr. Hilal Al-Tahan, that the application of such a strategy will not cause economic turmoil, or damage to the local market at the present time, while the economic analyst is willing to find satisfaction ????? that the timing of the launch of this strategy is not appropriate, noting that the country's economy must be in a position of strength before the application of such changes.

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