Home
Denied direct change the currency in next May - Central: new procedures for the disbursement of foreign currency
2/21/2012 5:13:03 PM
Erbil - The Constitution
Denied the decision of the Economic Committee in the House of Representatives told one of the Iraqi parliament on the issuance of currency, a new Iraqi in the month of September. The MP said the Kurdistan Alliance bloc, Mahma Khalil that the process of issuing new Iraqi currency will start at the end of 2013, where they will be removing three zeros and write in English Arabic and Kurdish. Khalil added that the Economic Commission representative held up to now, several meetings with the Iraqi Central Bank Governor on the issuance of currency, a new Iraqi. He explained that the new currency will contain several categories, as a group of 50 fils, quarter of a dinar, half dinar, one dinar, five dinars 0.25 JD 50. He noted that the goal of this step and the issuance of new currency, is to raise the value of Iraqi dinar to be equal to the value of the U.S. dollar. He stressed that equal the value of Iraqi dinar with the U.S. dollar, based on increasing the balance of the dinar and the availability of monetary reserves and the high level of the Iraqi economy and the sale of oil and gas and the capacity of the state, as well as efforts to the Iraqi Central Bank aims to strengthen the dinar in the future. ruled out Khalil lead to issue the new currency and to remove three zeros, to the inflation in the Iraqi economy, saying the Iraqi state has $ 60 billion as reserves at the Central Bank The research and statistics that the Iraqi economy is moving towards improvement, has also started gas sales and operations of investment increasing, so the phase through which Iraq currently require issuance of new currency. and was a member of the Economic Committee in the House of Representatives of Iraq, Abdul-Hussein Abtan, has said) in the earlier , the Committee agreed with the Central Bank to begin the process of changing the local currency in the next September. But Khalil, say I as rapporteur of the Economic Commission representative, I assure that this does not unfounded, but will be treated the new currency at the end of 2013. also denied Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, the Bank's procedures to delete the zeros from the currency in the month of May next. He said that what appeared in the media about the start of procedures to delete the zeros in the month of next May, is unfounded, pointing out that such a move begins with the beginning of the new fiscal year and not in middle of it. Saleh continued: will the central bank as of tomorrow, new measures provide for the banks interest rate on the price of foreign currency to the sale of not more than 10 dinars, because the central bank sold dollars to banks at the price of 1179 dinars, and should not be selling them to citizens of more than price of 1189 dinars. He noted that in case of violation of the banks of the new instructions will be the withdrawal of a license to deal them in the market for auction the central bank for foreign currency. He stressed that this measure was to prevent the monopoly of the banks that are not consistent with the policies of the Central Bank, which provides not to exploit the citizens to raise interest rates to the degree of influence on the exchange rate of foreign currency in the domestic market. The press sources indicated to start the process of deleting the zeros in the beginning of next May.
[You must be registered and logged in to see this link.]
2/21/2012 5:13:03 PM
Erbil - The Constitution
Denied the decision of the Economic Committee in the House of Representatives told one of the Iraqi parliament on the issuance of currency, a new Iraqi in the month of September. The MP said the Kurdistan Alliance bloc, Mahma Khalil that the process of issuing new Iraqi currency will start at the end of 2013, where they will be removing three zeros and write in English Arabic and Kurdish. Khalil added that the Economic Commission representative held up to now, several meetings with the Iraqi Central Bank Governor on the issuance of currency, a new Iraqi. He explained that the new currency will contain several categories, as a group of 50 fils, quarter of a dinar, half dinar, one dinar, five dinars 0.25 JD 50. He noted that the goal of this step and the issuance of new currency, is to raise the value of Iraqi dinar to be equal to the value of the U.S. dollar. He stressed that equal the value of Iraqi dinar with the U.S. dollar, based on increasing the balance of the dinar and the availability of monetary reserves and the high level of the Iraqi economy and the sale of oil and gas and the capacity of the state, as well as efforts to the Iraqi Central Bank aims to strengthen the dinar in the future. ruled out Khalil lead to issue the new currency and to remove three zeros, to the inflation in the Iraqi economy, saying the Iraqi state has $ 60 billion as reserves at the Central Bank The research and statistics that the Iraqi economy is moving towards improvement, has also started gas sales and operations of investment increasing, so the phase through which Iraq currently require issuance of new currency. and was a member of the Economic Committee in the House of Representatives of Iraq, Abdul-Hussein Abtan, has said) in the earlier , the Committee agreed with the Central Bank to begin the process of changing the local currency in the next September. But Khalil, say I as rapporteur of the Economic Commission representative, I assure that this does not unfounded, but will be treated the new currency at the end of 2013. also denied Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, the Bank's procedures to delete the zeros from the currency in the month of May next. He said that what appeared in the media about the start of procedures to delete the zeros in the month of next May, is unfounded, pointing out that such a move begins with the beginning of the new fiscal year and not in middle of it. Saleh continued: will the central bank as of tomorrow, new measures provide for the banks interest rate on the price of foreign currency to the sale of not more than 10 dinars, because the central bank sold dollars to banks at the price of 1179 dinars, and should not be selling them to citizens of more than price of 1189 dinars. He noted that in case of violation of the banks of the new instructions will be the withdrawal of a license to deal them in the market for auction the central bank for foreign currency. He stressed that this measure was to prevent the monopoly of the banks that are not consistent with the policies of the Central Bank, which provides not to exploit the citizens to raise interest rates to the degree of influence on the exchange rate of foreign currency in the domestic market. The press sources indicated to start the process of deleting the zeros in the beginning of next May.
[You must be registered and logged in to see this link.]
