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Zero process will not change rate
From JimmyWebber
June, 26, 2011
[Diwaniyah - Where]
A Deputy Governor of Central Bank of Iraq, Ahmed Ibrihi that "the deletion of zeros from the Iraqi currency has nothing to do at the exchange rate and prices."
Ibrihi said in a statement to the Agency all of Iraq [where] on Sunday, said: "Some people imagine that the state wants to influence prices or exchange rates (a reduction or waiver) by the deletion of zeros and this is not true."
He added that "the deletion of zeros nothing to do with price and exchange rate and that the addition of larger groups of the currency does not require the deletion of zeros."
He continued that "it is not expected to convene official in the state to promote a false consciousness about life and the promotion of economic illusions create disorder."
It should be noted that the "plan of deleting three zeros from the Iraqi currency is one of the proposed projects. Emphasizes economists that this project will facilitate cash transactions; because the handling of cash in Iraq is complex; due to the variation in currency exchange between the Iraqi dinar and the U.S. dollar, which could reach the cash transactions to the trillions the require complex calculations to see the results of those transactions in the profit and loss, and others. "
The Central Bank of Iraq has decided to restructure the local currency in order to develop the payment system in the country, and start execution of the strategic long-term, specializes in the restructuring of the local currency for the development of the payments system in Iraq.
The "International Monetary Fund calls Iraq a number of economic measures including the privatization of banks and raise three zeroes from the local currency and to meet debt and compensation is the responsibility of Iraq, if Iraq's desire to receive the support of the International Fund." Ended 23
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From JimmyWebber
June, 26, 2011
[Diwaniyah - Where]
A Deputy Governor of Central Bank of Iraq, Ahmed Ibrihi that "the deletion of zeros from the Iraqi currency has nothing to do at the exchange rate and prices."
Ibrihi said in a statement to the Agency all of Iraq [where] on Sunday, said: "Some people imagine that the state wants to influence prices or exchange rates (a reduction or waiver) by the deletion of zeros and this is not true."
He added that "the deletion of zeros nothing to do with price and exchange rate and that the addition of larger groups of the currency does not require the deletion of zeros."
He continued that "it is not expected to convene official in the state to promote a false consciousness about life and the promotion of economic illusions create disorder."
It should be noted that the "plan of deleting three zeros from the Iraqi currency is one of the proposed projects. Emphasizes economists that this project will facilitate cash transactions; because the handling of cash in Iraq is complex; due to the variation in currency exchange between the Iraqi dinar and the U.S. dollar, which could reach the cash transactions to the trillions the require complex calculations to see the results of those transactions in the profit and loss, and others. "
The Central Bank of Iraq has decided to restructure the local currency in order to develop the payment system in the country, and start execution of the strategic long-term, specializes in the restructuring of the local currency for the development of the payments system in Iraq.
The "International Monetary Fund calls Iraq a number of economic measures including the privatization of banks and raise three zeroes from the local currency and to meet debt and compensation is the responsibility of Iraq, if Iraq's desire to receive the support of the International Fund." Ended 23
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