Economist warns of inflation, the central bank, which Szbbh printing new currency

By: gazwan
Date: Monday 14/04/2014 7:45
Iraq today / special

The head of the Economic Studies at the University of Kufa, an economist, thunder Twigg, the central bank to take comprehensive measures to replace the currency and delete the three zeroes, and determine a new rate of the Iraqi currency, instead of putting up a new currency, confuses dealing in the local market.

Twigg and saw in his speech for "Iraq today," that "put the Iraqi Central Bank to cash currency with new specifications, without pulling equivalent, representing an expansion in the money supply in the local market, and thus will reflect negatively on the creation of large inflationary effects."

And the repercussions, add currency other cash: "Add coin new cash with the old currency, would be a duplication of the currency, has created exchange market is balanced cash, and generates blurry intraday currency", and the pros, the deletion of zeros from the currency current, said Twigg : "the deletion of zeros from the current currency, will reduce the rate of inflation, and lower trading, currencies big cash in the local market, also reduces the incidence of theft and forgery of currency cash."

The Iraqi Central Bank announced the re-printing banknotes Iraqi pictures of the new, the bank said in a press statement, said that the reprinting of the new series of banknotes of Iraq and currently in circulation, pictures of new, protected more, using a good quality of printing paper, with the addition of some security tags ", and pointed out that the current banknotes, will continue to be traded with the new, and will not be pulling rolling them now, or in the future


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13/04/2014

Sumaisem: issuing new cash currency with no withdrawal of the old currency would be a great monetary inflation

Saw an economic expert, Dr. Peace Sumaisem that the Iraqi Central Bank's decision to replace the Iraqi currency is a good step, but it is an inflationary pressure in a period of political tension that is currently taking place in Iraq and with the season approaching parliamentary elections.

She moved her office told a news media that the new trading currency with no withdrawal of the old currency, would be a significant monetary inflation in the domestic market.

She Sumaisem that "the central bank issued previously currency monetary metal after the change, but it disappeared from circulation and the effect that some actors smuggled abroad to take advantage of mineral makeup where" pointing to release monetary metal is a qualitative improvement whatsoever in circulation, but the important thing is the space will be a trading currency.

The Iraqi Central Bank announced yesterday for reprinting Iraqi banknotes with pictures of new and more protection, noting that the currency will continue to be in circulation currently.

The bank said in a statement yesterday that he re-print the new series of banknotes of Iraq and the currently circulating pictures of new and superior protection, using a good quality of printing paper, with the inclusion of the two dates Hijri and Gregorian and the signing of the Governor of the Central Bank and the Agency Abdul Basit Turki Saeed and the addition after security tags.

He pointed out that the current banknotes will continue to be traded with the new will not be pulling rolling them currently or in the future.


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