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The central bank is moving to a large printed banknotes amid fears of traders in the currency market (Dif-Source)
10.05.2015
Wisdom - Follow-up: The president of the minister for economic affairs adviser appearance of Mohammed Saleh in a statement to «life», that the draft Print Central Bank of Iraq large cash categories, an important step on the road to monetary reform, which supports the country's economy, pointing to the market need for a large cash categories, and to handle very large monetary blocs in Iraq, especially that cash payments outweigh the instruments to deal cards and electronic payments.
He pointed out that printed large cash categories of project is not about monetary policy but the payments system management, pointing out that this plan will be condensed amounts of money, especially large groups that make up 90 percent of the money supply in circulation.
He explained, that put these large groups is to put the same amount of monthly money supply in the market but different categories, and not increase the original amount.
He ruled out the potential for inflation by the implementation of the project, pointing out that «Central» does not lend the government.
The traders in the currency market fears of a new high amounts of cash currency issue, pointing out that such a measure would lead to the loss of monetary value as it is imperative that any action aimed at revitalizing economic sectors
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10.05.2015
Wisdom - Follow-up: The president of the minister for economic affairs adviser appearance of Mohammed Saleh in a statement to «life», that the draft Print Central Bank of Iraq large cash categories, an important step on the road to monetary reform, which supports the country's economy, pointing to the market need for a large cash categories, and to handle very large monetary blocs in Iraq, especially that cash payments outweigh the instruments to deal cards and electronic payments.
He pointed out that printed large cash categories of project is not about monetary policy but the payments system management, pointing out that this plan will be condensed amounts of money, especially large groups that make up 90 percent of the money supply in circulation.
He explained, that put these large groups is to put the same amount of monthly money supply in the market but different categories, and not increase the original amount.
He ruled out the potential for inflation by the implementation of the project, pointing out that «Central» does not lend the government.
The traders in the currency market fears of a new high amounts of cash currency issue, pointing out that such a measure would lead to the loss of monetary value as it is imperative that any action aimed at revitalizing economic sectors
[You must be registered and logged in to see this link.]
