#####Keywords: government seeks to be a dollar per thousand dinars

I want to explane this piece for those that are lost.

The only sentence that you need to read is the sentence above the dotted line everything below is from the past.

The Council of Ministers are talking about the currency again, either they are going to replace the currency or that we have heard they are going to remove the 3 zeros from the exchange rate.

The other which we really do not want to hear about is the removal of the 3 zeros on the currency(on the currency note) in other terms that would be a lop.

And todays rate of a 25k note is equal to $25 dollars.

time will tell... be patient !




February 4, 2013


BAGHDAD (Iba) ruled the General Secretariat of the Council of Ministers replacement currency or cancellation of three zeros at this stage, indicating that it is seeking to raise the value of the dinar against the dollar.
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A statement of the Secretariat received by the independent press (Iba) ... for secretary Ali Mohsen Keywords say that "the proposed replacement of the currency and the abolition of three zeros discussed during the last term in the Council of Ministers, and that the Council stressed that this project is not a priority for the government at the moment, there is no problem real in this area. "

He Keywords that "replacing the currency in itself requires a large adjustments, there are still issues with this side after the fall of the dictatorial regime, as she was a block currency is limited, but it has doubled now than it was at the time, hence the process of withdrawing this block is a large and difficult task. "

He Keywords that "some have the wrong impression 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 the application, but does not give him only priority when providing stable conditions. "

He Cabinet Secretary said that "the 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 rises steadily along with high economic growth in Iraq, and is now one of the most developed countries in the world thanks to the expansion of oil production. "

He Keywords "that 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, "noting that" any improvement in the political situation could contribute to make this happen faster. "

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


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