Iraq Central Bank to substitute damaged currencies for new ones

Iraq, October 30, 2012
Iraq’s Central Bank announced on Saturday that it has signed a contract with a British company to substitute the damaged Iraqi currencies for new ones. The exchange will take place early November. Damaged currencies constitute 1% of the currencies used in the market, the bank noted.

“Iraq’s Central Bank contracted with a British company specialized in printing currencies to reprint small currencies of 250 and 1000 Dinars instead of the damaged currencies in the market. This British company is renowned in this filed and is responsible for printing around 60% of the world’s currencies”, Central Bank deputy governor Mathhar Mohammed said in a statement to Alsumaria.

The new currencies will be handed early November after many Iraqis found many difficulties to use the currencies of 250 and 1000 Dinars for they were mostly torn and damaged.


http://www.iraqdailyjournal.com/story-z6636834