Three zeros to be cancelled from Iraqi currency, says MP

16/04/2013

Parliamentary Finance Commission MP stated that the Central Bank of Iraq will soon cancel the zeros from the Iraqi currency. MP Abdul Hussein al-Yassiri revealed that it will happen by this as the Central Bank of Iraq is taking all necessary steps to convert this plan into reality.

He adds that the commission is in favor of Central Bank of Iraq with this decision as this will bring significant changes in the Iraqi economy. It is to be noted that earlier Central Bank reported that cancelling out zeros from Iraqi currency is under planning of the Bank.

The prime difficulty will be - is withdrawing 30 trillion dinars from the Iraqi market at the present time which will be replaced by new currency.
Previously the decision of eliminating zeros from Iraqi currency was not ratified by ministry of finance as the budget was done with the present currency.

Last Update:: 16/04/2013

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