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Change in Iraqi Currencies

30 Nov 2012
Central Bank adviser Mohammed Saleh, said that the bank is serious in executing the deletion of three zeros from the national currency of Iraq in near future. Salhan said that it depends on at the present time to shape the next government and parliament two new Saokhman upon themselves determine the mechanism under which the function of deleting the zeros from the Iraqi dinar. He also said that deleting the zeros would contribute to the reduction of the size of inflation and also to the reduction to the size of money supply in the market of 26 trillion Iraqi dinars to near about 25 billion dinars, pointing that the Kurdish language is going to be added to the new currency as well as English and Arabic. He added that the huge number of funds traded in the market let to get puzzled in the large commercial transactions and in the work of banks, adding that deleting three zeros from the Iraqi currency will direct to reform the management system of the national currency and thus develop and refresh the Iraqi economy. Source: [Nakhel News]
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