Finance Member - The Currency Newshound

Sunday 16 December 2012
Parliamentary Finance: ground is prepared for the process of lifting the zeros from the currency in 2013

Ruled out a member of the parliamentary Finance Committee, Majida al-Tamimi, the lifting of the zeroes from the currency in 2013, noting that ?the earth is ripe for replacement.?

Tamimi said in a press statement that ?the process of lifting the zeros from the currency in 2013 depends on the nature of the policy of the new central bank governor,? adding that ?according to the previous vision of the bank is supposed to be raised.?

She pointed out that for its ?not arrive until the day the book from the central bank about the process of lifting the zeros or postponed,? pointing out that ?the ground is prepared for the process of lifting the zeros from the currency, especially if there is fear from entering the currency forged and replace currency original thus happens inflation allowance reduce Trading. ?

The Cabinet decided in its meeting held on April 10 last patient in the application process of deletion of zeros from the national currency until further notice

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Parliamentary Finance: ground is prepared for the process of lifting the zeros from the currency in 2013
Sunday, December 16 1 / December 2012 06:01

Excluded by the parliamentary Finance Committee, Majida al-Tamimi, the lifting of the zeroes from the currency in 2013, noting that ?the earth is ripe for replacement.?

Tamimi said in a statement told all of Iraq [where], ?The process of lifting the zeros from the currency in 2013 depends on the nature of the policy of the new central bank governor,? adding that ?according to the previous vision of the bank is supposed to be raised.?

She pointed out that for its ?not arrive until the day the book from the central bank about the process of lifting the zeros or postponed?, drawing attention to the ?ground is prepared for the process of lifting the zeros from the currency, especially if there is fear from entering the currency forged and replace currency original thus happens inflation allowance reduce trading. ?

The Cabinet had in its meeting held on April 10 last patient in the application process of deletion of zeros from the national currency until further notice.

The Central Bank of Iraq, and on the lips of bank adviser appearance of Mohammed Saleh, has confirmed to [where] the need for Iraq to process administrative reform of the currency cash, and that the project to delete the zeros is a step comes as part of the country?s need to process administrative reform of the currency, in order to reduce the cost of cash transactions in the economic process, in addition to the need to provide small denominations coins used in daily circulation of small transactions.

The officials at the central bank, as well as some politicians and economists, urged the government to delete the zeros from the currency, and the issuance of a new currency denominations large cash, in addition to a small Coins.

Observers say the government really intends to delete the zeros from the currency as a step towards improving the purchasing power of the Iraqi dinar, but economists played down the importance of this step, considering that the cost of raising the zeros will be greater than the benefit expected from the lifting of zeros.

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Source: http://thecurrencynewshound.com/2012/12/16/finance-member-lifting-of-the-zeros-in-2013-depends-on-policy-of-new-cbi-governor/

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