Central Bank: raise zeros from the currency still delayed

Central Bank: raise zeros from the currency still delayed


03-07-2013 07:34 PM


Karbala (newsletter).The Central Bank of Iraq, stressed that raising zeros from the currency still deferred until further notice, indicating that the Bank's gold reserve is not affected by changes in the global market.

He said Central Bank Governor Abdel Basset Turki said at a press conference Wednesday afternoon on the sidelines of his visit to Karbala for the opening of the House of financial control, which was attended by a reporter (News Agency): the draft raise zeros from the currency is delayed due to circumstances affecting the country, stating: the Bank continues to study with experts and specialists how to change currency but its implementation is dependent on the situation faced by Iraq, and this is currently delayed.

Turkish: confirmed that Reserve Bank of gold is not affected by changes in the global market because of the Bank's financial plan months ago to avoid such disasters, indicating that the Central Bank's gold reserves would be a big supporter of the Iraqi currency at any time, anywhere.

That some economists believe that Iraq is now prepared to delete the zeros of the Iraqi dinar, stating that deletion requires political and security stability as well as economic stability./end/11. s. a./
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So here we go again with the deletion of zero's on hold. I have herd that several times in my dinar investment ride and ive never believed it before but this time is was just going to accept it and hope it wouldn't last long, but then i had a brain storm that i want to run by you guys here.

OK so they get out of chapter seven and are sent 52 cargo ships full of about 1500 containers per ship from all over the world, they are prob still unloading them 24/7.

Before now they either grew there own food and made products for themselves or they were imported from Iran, 70% of Iran's exports this year were to Iraq and the Iranian rial is worth much less then the iqd so they would be easy to buy. So now that's over its against the rules and Iraqs markets will be full of products from all over the world.

So my question is this, How can Iraqis buy these new products? They went gifts they have to be purchased. They will be much higher then what was in the market before and most are poor in iraq making 4500 dinar per month average income.

Hmmmmmmm