Financial expert: delaying the replacement currency will reflect positively to the process of disarmament of zeros from the new currency

2012-11-01 22:09:21

BAGHDAD (Iba) .. financial expert said Mohammed al-Samarrai, the latest security measures for the central bank will delay the implementation of the project to delete the zeros until after 2013, pointing out: that the delay will pave the way for the currency switch demilitarized zeroes smoothly and regularly.

Samarrai said told the independent press (Iba): The transition period between currency usual by the citizen and the new currency demilitarized zeros need to for a long time to get to know them citizens and take its rightful in business dealings, stressing: that delay will pour the interests of the project and will give citizens time to get to know the new currency.

He added: to replace the currency should not be a surprise and must circulation of the new currency to the old currency in the market to get used to it citizens.

Confirmed: that replace the deleted zeroes currency during this transitional period will not affect the market and the Iraqi economy as a result of the length of the transitional period from the old currency to the new currency and to know the value of citizen categories well.

He pointed out: that this process did not affect the economy, but would structural currency to its new format, with a number zero less and mechanisms calculation less and make the currency traded in the market less, indicating: that this system exists in most countries in the world that operates according to the rules of two billion, not two million.

He continued: that this experience is not the experience of only Iraq, but the major powers predecessors in dealing including Turkey, Iran, Italy these countries omitted zeros from the currency did not affect Abeche on its economy, but moved smoothly as the restructuring process of the currency. (End)


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