CBI: New currency will be issued to groups of small metal

[Stillw8n]

CBI: New currency will be issued to groups of small metal

Iraqi Central Bank explained the details of the new Iraqi currency, which will be issued within three or four years to come, which will be in three languages, including the codification, including the categories of mineral dinars.

The adviser said the bank the appearance of Mohammed Saleh said in a statement that the idea of changing the currency began to mature gradually, although referred to the Economic Committee in the Federal Council of Ministers since (2007).

indicating that the existing currency will go through two stages; first: Delete the zeros. The second restructuring, and launch the new currency for trading in the markets during the three or four years. And the benefit: The new currency will be in three languages ​​(Arabic, Kurdish, English), as well as there are groups of small metal.

noting that the experience of changing the currency took place in many States and was successful, as in Turkey and in Germany and Russia. and delete the yellowing, said the central bank adviser: The category Iraqi monetary omit one of three zeros, ie, (1.000) «thousand dinars» become «one dinar« only, as well as other categories, as We will issue the currencies of large and small k (50) «fiftieth JD» or (100) «hundred dinars», equivalent to (50,000) «fifty thousand» or (100,000) «a hundred thousand dinars» At present, emphasizing changing the currency does not affect the commitments with the States, or deal with it internally.

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