Parliamentary Finance: Issue 50 categories and 100 000 dinars than reducing demand for the dollar

2015/6/6 9:55

He attributed the parliamentary Finance Committee member to the Central Bank of Iraq's determination currency categories of 50 000 dinars and 100 000 dinars to reduce the demand for the dollar version.

Said Jabbar al-Abadi told all of Iraq [where] that "the Central Bank is moving to issue currency worth 50 000 dinars and 100 thousand dinars and purpose to reduce the demand for the dollar and foreign currency because we observed a steady rise in the foreign exchange rates against the Iraqi dinar."

He pointed out that "the date put these two currencies in the markets is a matter of art back to the Central Bank."

The sources in the Iraqi Central Bank revealed the bank's intention to launch a new paper currency from the category of 50 thousand dinars and 100 thousand dinars to reduce the control of the dollar on commercial transactions, the new currency and meet the market needs of large denominations which are equivalent to about $ 100.

For his part, the economic expert contrary goldsmith issuance of these two categories as "unfortunate step", noting that "they will not Tqlla of demand for the dollar in the domestic market because the size of the issuance of this bulletin will cost the state treasury large sums of money in light of the financial crisis experienced by the country, as well as the Bank's intention to delete zeros from the Iraqi operation, which means the destruction of these two categories in the near future, "he said. On.

He noted jeweler that "this step has some pros on the size of trading paperwork and reducing money supply in the domestic commercial circulation, but it will not eliminate the need for the dollar to the lack of adequate safeguards in the Iraqi dinar against other currencies on the domestic level, as well as the need for traders to buy goods in dollars from abroad, ".


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Parliamentary Finance: Issue 50 categories and 100 000 dinars than reducing demand for the dollar

BAGHDAD / integrity -

He attributed the parliamentary Finance Committee member to the Central Bank of Iraq's determination currency categories of 50 000 dinars and 100 000 dinars to reduce the demand for the dollar version.

Jabbar al-Abadi said that "the Central Bank is moving to issue currency worth 50 000 dinars and 100 thousand dinars and purpose to reduce the demand for the dollar and foreign currency because we observed a steady rise in the prices of foreign currencies against the Iraqi dinar."

He pointed out that "the date put these two currencies in the markets is a matter of art back to the Central Bank."

The sources in the Iraqi Central Bank revealed the bank's intention to launch a new paper currency from the category of 50 thousand dinars and 100 thousand dinars to reduce the control of the dollar on commercial transactions, the new currency and meet the market needs of large denominations which are equivalent to about $ 100.

For his part, the economic expert contrary goldsmith issuance of these two categories as "unfortunate step", noting that "they will not Tqlla of demand for the dollar in the domestic market because the size of the issuance of this bulletin will cost the state treasury large sums of money in light of the financial crisis experienced by the country, as well as the Bank's intention to delete zeros from the Iraqi operation, which means the destruction of these two categories in the near future, "he said. On.

He noted jeweler that "this step has some pros on the size of trading paperwork and reducing money supply in the domestic commercial circulation, but it will not eliminate the need for the dollar to the lack of adequate safeguards in the Iraqi dinar against other currencies on the domestic level, as well as the need for traders to buy goods in dollars from abroad, ".


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