#################This is from the Council of Ministers web site: Excluding the cancellation of three zeros from the currency

04/02/2013 8:54 am

Excluded the General Secretariat of the Council of Ministers replacement currency or cancellation of three zeros at this stage and it is seeking to raise the value of the dinar against the dollar.

The Secretary General of the Council of Ministers Ali Mohsen Ismail Center Brief for the Iraqi Media Network that the project replace currency and the abolition of three zeros discussed during the last term in the Council of Ministers and the Council stressed that this project is not a priority for the government at the moment there is no real problem in this area.

Noting there The replacement currency itself requires a large adjustments, as there are still issues with this side after the fall of the dictatorial regime, where the mass of currency in circulation is limited, but it has doubled now than it was at the time, hence the process of withdrawing this block is a difficult task The large

He stressed that some have the impression sinner E implies that the deletion of zeros will reduce the size of the money in circulation Kkamih, and indeed it does not reduce even by 1% and although the government believes that the change of currency is a good thing in the case of appropriate conditions for its application, but does not give him a priority, but When available, stable conditions

The Secretary-General drew that Iraqi dinar candidate because rising price against the dollar, and there is economic and financial viability enables dinar to be stronger than it is now, and opportunities rising value available, especially with the growing backlog at the central bank, which exceeded $ 65 billion and rising steadily along with high economic growth in Iraq.

He is now one of the most developed countries in the world thanks to the expansion of oil production.

He said the ingredient objectivity and economic available in the direction of the high exchange rate of the dinar against the dollar, noting that the government is seeking to have that exchange rate 1000 dinars to the dollar in the sense that the price of the currency class hundred dollars a hundred thousand Iraqi dinars and that any improvement in the political situation could contributes to this matter faster.


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