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Central Bank: Changing the currency cost up to 172 billion dinars
16/07/2012 PM - 3:53 p.m. | Hits: 31
Central Bank of Iraq announced the amount of speculative cost of the project to delete the zeros from the currency up to 172 billion dinars.
The study by a private project delete the zeros received "integrity of electronic" copy of it speculative that the total cost of the project to delete the zeros up to a hundred and seventy-two billion dinars. "
The bank said in his study that the wages of transport and insurance of the role of copyright to the Baghdad International Airport up to (140), calculated on the basis of the ratio between the highest and lowest price (90-189) billion dinars from the presentations made by companies, he said, adding that "the cost of speculative Stamping coins of the new currency of (16) billion dinars. "
He said the bank "The wages of cargo, Fridays and official holidays, overtime, etc. .. of (15) billion dinars," The statement noted that the cost of the media campaign and the costs of different limits (1) billion dinars.
He recalled the bank's cost of the replacement process for the period from 15/10/2003 until 15/04/2004 was printed in which wages and the transfer of currency to (240) dinars, and wages of minting coins up to (16) billion dinars, and a ring of total costs allocated to the banks amounted to (13) billion dinars.
And attributed the bank's reasons for the deletion of zeros for three reasons First, the process of deleting the zeros will be an opportunity to add new features of the Iraqi currency to prevent potential counterfeiting of the new currency through the use of specifications of high security, leading to increased customer confidence (public institutions) as a result of low or no cases of counterfeiting. .
He pointed out that the second reason that the process of removing zeros will lead to a reduction Alokiem digital currency and financial Almahacbah and may play to reduce time, effort and cost required to complete financial transactions and accounting as well as the possibility of reducing the number of banknotes traded, especially if the printing paper money denominations substantial. "
He said the third reason, it enhances the possibility of maintaining the Iraqi dinar exchange rate against foreign currencies gained the confidence of its customers. The central bank has decided to adopt some of the features and pictures to be developed on the new currency after deletion of zeros.
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16/07/2012 PM - 3:53 p.m. | Hits: 31
Central Bank of Iraq announced the amount of speculative cost of the project to delete the zeros from the currency up to 172 billion dinars.
The study by a private project delete the zeros received "integrity of electronic" copy of it speculative that the total cost of the project to delete the zeros up to a hundred and seventy-two billion dinars. "
The bank said in his study that the wages of transport and insurance of the role of copyright to the Baghdad International Airport up to (140), calculated on the basis of the ratio between the highest and lowest price (90-189) billion dinars from the presentations made by companies, he said, adding that "the cost of speculative Stamping coins of the new currency of (16) billion dinars. "
He said the bank "The wages of cargo, Fridays and official holidays, overtime, etc. .. of (15) billion dinars," The statement noted that the cost of the media campaign and the costs of different limits (1) billion dinars.
He recalled the bank's cost of the replacement process for the period from 15/10/2003 until 15/04/2004 was printed in which wages and the transfer of currency to (240) dinars, and wages of minting coins up to (16) billion dinars, and a ring of total costs allocated to the banks amounted to (13) billion dinars.
And attributed the bank's reasons for the deletion of zeros for three reasons First, the process of deleting the zeros will be an opportunity to add new features of the Iraqi currency to prevent potential counterfeiting of the new currency through the use of specifications of high security, leading to increased customer confidence (public institutions) as a result of low or no cases of counterfeiting. .
He pointed out that the second reason that the process of removing zeros will lead to a reduction Alokiem digital currency and financial Almahacbah and may play to reduce time, effort and cost required to complete financial transactions and accounting as well as the possibility of reducing the number of banknotes traded, especially if the printing paper money denominations substantial. "
He said the third reason, it enhances the possibility of maintaining the Iraqi dinar exchange rate against foreign currencies gained the confidence of its customers. The central bank has decided to adopt some of the features and pictures to be developed on the new currency after deletion of zeros.
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