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Economist: delete the zeros is an urgent need to raise the value of the Iraqi currency in the market
Baghdad / justice - 07/03/2012 - 12:59 AM | Hits: 5
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Said Husam Obeid, an economist that the step to delete the zeros of the Iraqi currency has become an urgent necessity in order to raise the value of the Iraqi currency against foreign currencies added to maintain the balance in the market ...
Obaid said in a statement received (justice) a copy of "this procedure need to be a political decision," calling for "the need to speed up the deletion of zeros from the Iraqi currency, because this step returns significant and positive on the Iraqi economy." And added that "this step not involved in any negative repercussions, as it is a very positive step given the strength of the currency and contribute to the elimination of the negative consequences arising from the density of cash as one of the main problems that we have in the banking business, both in the operations of counting currency, sorting categories and destroy the bad of them and the provision of security measures necessary to move them. "and that" Iraq is not the only country that resorted to this option, many of the countries of Europe followed after World War II, including Germany, have embarked Turkey recently to delete six zeros from its currency. "The Central Bank of Iraq and on to San adviser Bank of the appearance of Mohammed, had confirmed the need for Iraq to the process of administrative reform of the currency cash and that the project to delete the zeros is a step comes as part of the country's need to the process of administrative reform of the currency in order to reduce the cost of cash transactions in the economic process as well as the need for coins of categories of small used in trading transactions Small daily. mentioned that officials at the Central Bank as well as some politicians and economists urged the government to delete the zeros from the currency and the issuance of new currency denominations large cash in addition to the existence of coins is small. Observers say that the government intends to delete the zeros from the currency as a step towards improving the purchasing power of the dinar However, Iraqi economists played down the importance of this step, considering that the cost of raising the zeros will be greater than the desired benefit of raising the zeros.
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Baghdad / justice - 07/03/2012 - 12:59 AM | Hits: 5
________________________________________
Said Husam Obeid, an economist that the step to delete the zeros of the Iraqi currency has become an urgent necessity in order to raise the value of the Iraqi currency against foreign currencies added to maintain the balance in the market ...
Obaid said in a statement received (justice) a copy of "this procedure need to be a political decision," calling for "the need to speed up the deletion of zeros from the Iraqi currency, because this step returns significant and positive on the Iraqi economy." And added that "this step not involved in any negative repercussions, as it is a very positive step given the strength of the currency and contribute to the elimination of the negative consequences arising from the density of cash as one of the main problems that we have in the banking business, both in the operations of counting currency, sorting categories and destroy the bad of them and the provision of security measures necessary to move them. "and that" Iraq is not the only country that resorted to this option, many of the countries of Europe followed after World War II, including Germany, have embarked Turkey recently to delete six zeros from its currency. "The Central Bank of Iraq and on to San adviser Bank of the appearance of Mohammed, had confirmed the need for Iraq to the process of administrative reform of the currency cash and that the project to delete the zeros is a step comes as part of the country's need to the process of administrative reform of the currency in order to reduce the cost of cash transactions in the economic process as well as the need for coins of categories of small used in trading transactions Small daily. mentioned that officials at the Central Bank as well as some politicians and economists urged the government to delete the zeros from the currency and the issuance of new currency denominations large cash in addition to the existence of coins is small. Observers say that the government intends to delete the zeros from the currency as a step towards improving the purchasing power of the dinar However, Iraqi economists played down the importance of this step, considering that the cost of raising the zeros will be greater than the desired benefit of raising the zeros.
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