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Financial expert: delayed Exchange will be reflected positively of zeros of the new currency
2012-11-01
Baghdad (IBA).Financial expert stressed alehouse, the latest security procedures of the Central Bank will delay of project delete zeros beyond 2013, pointing out: the delay will pave the way to switch the neutral currency zeros smoothly and regularly.
Samarrai said of the independent press agency (IBA): the transitional period between the usual currency by citizens and the new currency neutral ciphers need too long to recognize a citizen and taxiing in business dealings, saying: that delay will in the interest of the project and will give citizens time to learn about the new currency.
He added that the Exchange should be unsurprised and new currency to the old currency in the market for used by citizens.
Confirmed: replacement coin zeros deleted during this transitional period will not affect the market and the Iraqi economy as a result of the length of the transition period from the old currency to the new currency and know the value of citizen categories.
He noted that this process did not affect the economy but will return to its new format currency structure with zero number less and less computation mechanisms and to make cash currency in circulation in the market is less, stating: this system exists in most international countries operates under rules of the 1.5 and not 2 million.
He continued that this experience is not only Iraqi experience but its predecessors in dealing powers including Turkey Iran Italy States omit leading zeros from the currency and had not affected by Shi on its economy but moved smoothly being restructuring process for the currency.(End)
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2012-11-01
Baghdad (IBA).Financial expert stressed alehouse, the latest security procedures of the Central Bank will delay of project delete zeros beyond 2013, pointing out: the delay will pave the way to switch the neutral currency zeros smoothly and regularly.
Samarrai said of the independent press agency (IBA): the transitional period between the usual currency by citizens and the new currency neutral ciphers need too long to recognize a citizen and taxiing in business dealings, saying: that delay will in the interest of the project and will give citizens time to learn about the new currency.
He added that the Exchange should be unsurprised and new currency to the old currency in the market for used by citizens.
Confirmed: replacement coin zeros deleted during this transitional period will not affect the market and the Iraqi economy as a result of the length of the transition period from the old currency to the new currency and know the value of citizen categories.
He noted that this process did not affect the economy but will return to its new format currency structure with zero number less and less computation mechanisms and to make cash currency in circulation in the market is less, stating: this system exists in most international countries operates under rules of the 1.5 and not 2 million.
He continued that this experience is not only Iraqi experience but its predecessors in dealing powers including Turkey Iran Italy States omit leading zeros from the currency and had not affected by Shi on its economy but moved smoothly being restructuring process for the currency.(End)
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