Deleting the zeros from currency is a mere formality; Does n

[Stillw8n]

Deleting the zeros from currency is a mere formality; Does not affect exchange rate

21/11/2011 0:00

Showed a member of the Finance Committee and MP for the Kurdistan Alliance Najiba Najib said the project to delete the three zeroes from the currency does not lead to the strengthening of the Iraqi dinar against foreign currencies, saying that a mere formality for the restructuring of the currency.

Said Najib in a press statement yesterday that “the project to delete the three zeroes from the currency Iraq does not work on increasing the value of the Iraqi dinar against foreign currencies, but is a matter of formality for the restructuring of the currency and reduce the money supply,
explaining the project to delete the zeros of the Iraqi currency will make it easier for banks, banks, merchants and owners of large sums of money transfer their money from one place to another contrary to what is it now of the coin current that they are replacing foreign currency,

adding that “the objective of this project is to restructure the currency and make it more heavily traded by investors and Iraqi banks and stay away from trading in foreign currency being reduced from the cluster’s monetary currency,

and continued on to say: This project presented a proposal by the Bank CBI had not seen the details of the Iraqi parliament to fully whether the meeting occurred only between the administration of the Central Bank and the Parliamentary Finance Committee and confirmed that they intend to implement this project.

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