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Governor of Central Bank announces new measures to maintain the value of the Iraqi dinar against the dollar
2012-02-21 14:05:48
BAGHDAD (Iba) ... the Iraqi Central Bank announced new measures to maintain the value of the Iraqi dinar against the dollar.
He said Central Bank Governor Sinan Shabibi in a press statement that in view of the high demand for the dollar's central bank has taken a new regulatory procedures rather than restrictive.
He assured the Shabibi that monetary policy in Iraq's okay because there are up high which is called the cover of the currency, which gives us flexibility in dealing with monetary policy based on the study of the march of the economy, inflation and rising prices, whether prices have risen significantly we will resort to tougher measures, but if increased the pace of prices, there will be less action.
And on the process of deleting the zeros Shabibi said: that there is much work and continuing in relation to the process of deletion of zeros. The new currency will be launched in 2013. Now we have many ideas for the design of the coin and paper to reach a final form for the new currency, but it needs time to the multiplicity of designs and designers, the competition for features included in the currency.
He ruled out the central bank governor influenced by the market to change the currency, said the steps well thought out, and all banks will contact the Central Bank, according to the regulatory process will withdraw currency from banks and provide them with the Central Bank of new currency will not accompany the process has no effect in relation to markets, and trading would be easy for the new currency.
It is scheduled to be deleted three zeros from the new currency, ie, that the amount of one thousand dinars will become the new currency and one Iraqi dinars. (End)
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2012-02-21 14:05:48
BAGHDAD (Iba) ... the Iraqi Central Bank announced new measures to maintain the value of the Iraqi dinar against the dollar.
He said Central Bank Governor Sinan Shabibi in a press statement that in view of the high demand for the dollar's central bank has taken a new regulatory procedures rather than restrictive.
He assured the Shabibi that monetary policy in Iraq's okay because there are up high which is called the cover of the currency, which gives us flexibility in dealing with monetary policy based on the study of the march of the economy, inflation and rising prices, whether prices have risen significantly we will resort to tougher measures, but if increased the pace of prices, there will be less action.
And on the process of deleting the zeros Shabibi said: that there is much work and continuing in relation to the process of deletion of zeros. The new currency will be launched in 2013. Now we have many ideas for the design of the coin and paper to reach a final form for the new currency, but it needs time to the multiplicity of designs and designers, the competition for features included in the currency.
He ruled out the central bank governor influenced by the market to change the currency, said the steps well thought out, and all banks will contact the Central Bank, according to the regulatory process will withdraw currency from banks and provide them with the Central Bank of new currency will not accompany the process has no effect in relation to markets, and trading would be easy for the new currency.
It is scheduled to be deleted three zeros from the new currency, ie, that the amount of one thousand dinars will become the new currency and one Iraqi dinars. (End)
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