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09/14/2011
The Central Agency of Statistics, that Atathir to delete the zeros of the local currency inflation rates, provided the central bank continued its policy aimed at maintaining the dollar at its current level.
According to a statement posted on the site Alalekaroni device, "the announcement that the deletion of zeros from the currency has raised concerns of citizens and business on the grounds that the change of exchange rate changes with the prices of goods and services."
The statement quoted an official source in the Central Bureau of Statistics "that the deletion of zeros does not affect inflation, provided the central bank continued its policy aimed at maintaining the dollar at its current level."
Referring to the most significant factors that affect inflation and dollar exchange rate and the breadth of the criticism, interest rates, structural imbalances between supply and demand and the offer price but still is the most impact on inflation.
The source added that by deliberating with the Central Bank of Iraq and Astvsarna on the impact of the deletion of zeros on the inflation rates have confirmed that there was no influence whatsoever for the deletion of zeros on inflation if the exchange rate of the dollar now is 1200 dinars, the deletion of zeros will make the exchange rate is 1.2 dinars to the dollar and this will naturally to the stability of commodity prices, particularly imported it, and not inflated prices, as this process by myself, where do not deal citizen figures large cash this side and on the other hand facilitate cash transactions in banks and business dealings of other terms of dealing merchant categories of small coin.
The experience of Iraq during the nineties indicate a strong correlation House of inflation and exchange rates of the dollar has seen the period known as inflation, acute, where the exchange rate was changing very quickly and will change the prices of goods and services, especially imported from them, which was removed from the pace of inflation substantially and at a rapid rate .
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