Iraqi Dinar RUMOR BOARD

[WayneC777]

The deletion of zeros from the dinar converts it to a competitor of the dollar ...

Sat, 13-02-2010

Baghdad / term

Officials at the Central Bank that the bank has prepared a plan to drop three zeros from the Iraqi currency with the nominal to maintain its purchasing power.

Officials at the Central Bank since the beginning of February that the bank has prepared a plan to drop three zeros from the Iraqi currency and thus smaller nominal value, while maintaining the purchasing power and value of real.

The adviser said the appearance of the central bank governor Mohammad Saleh: that the switch will be a gradual long-term co-exist during which the old currency and the new currency so as not to be affected by the market and commercial transactions.

He said Finance Minister Baqir Jabr Al-Zubaidi said such a resolution would put Iraq in the ranks of the Gulf states and calling it the action is heartening.

And re-remembered that other countries did this step, such as Turkey and Brazil.

However, as is expected in every step of such a large, central bank's decision to delete three zeros from the national currency rumors about increasing the value of the Iraqi dinar.

However, Finance Minister Bayan Jabr denied that a process of change to any shocks.

Advisor of the Central Bank the appearance of Mohammed Saleh For his part, stressed that dropping the three zeros of the draft Strategy in line with the development which is expected to be witnessed by the Iraqi economy in the next phase.

Mohammed Saleh assured citizens that the process of switching the currency will be easy and convenient, but noting its benefits in facilitating business transactions.

The consultant noted the appearance of Mohammed Saleh said the new Iraqi dinar will remain when it was put on the symbols of Iraq and holding the Ghtyh Co, Arabic and Kurdish.

Expert financial and economic as Abdul Hadi welcomed the orientation of the Central Bank decision to delete the zeros of the Iraqi currency ruling out any negative effects on it.

Pointing out that the decision to drop the zeroes on the currency that would, among other benefits, the proliferation of ATM machines that are still unknown in Iraq because they can not mobilize such devices in Iraqi dinars at the present time.

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