Member of Finance Committee proposes issuing currencies category 50 and 100 thousand dinars instead of deleting the zeros
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Member of Finance Committee proposes issuing currencies category 50 and 100 thousand dinars instead of deleting the zeros
Admin Mon Jul 09, 2012 12:17 pm
09-07-2012 | (Voice of Iraq) - Add a comment -
Baghdad (news)
Member suggested the Finance Committee of the National Alliance MP for Hussain Yasiri, the version with the new categories (50) thousand dinars, (100) thousand dinars, the currency current instead of deleting the zeros of the three, the fact that the current circumstances do not allow changing money.
Yasiri said (of the Agency news) said on Monday: There are many problems that will accompany the re-structuring currency after deleting three zeros which when applied will cause rise in prices of goods in local markets because the citizens do not have full knowledge of how to handle the new currency.
And he continued, adding that it would cause social problems between (the creditor and debtor) any how to pay off the debts, as well as the presence of mafias to rig the new currency ready to put it to markets on the implementation of the project, as well as current conditions experienced by the country Kalnsaat political and fluctuation of the exchange rate of the dinar against the dollar does not allow replace the national currency, calling for postponement and not applied.
He added, you must add the new currencies to the currency of the current class (50) thousand dinars, (100) thousand dinars instead of issuing a new currency which deleted three zeros to reduce the liquidity of the money supply sought by the Central Bank through the implementation of this project.
The Central Bank seeks to apply the draft to delete the zeros of the three Iraqi currency at the beginning of next year, despite calls from the federal government and some members of the House of Representatives by the wait.
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