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2011-08-06
In the past years have fallen Iraqi dinar value due to inflation and deterioration caused by economic sanctions imposed on Iraq after the Kuwait war, through the fall of Baghdad in 2003, to turn into a semi massacres day.
All these factors made the value of the dinar is going down, prompting the central bank in the same year resort to the adoption of a new mechanism to maintain the dinar’s exchange rate lies in the development of an auction foreign exchange to sell quantities of the dollar, resulting from the sale of oil in world markets, and converted to the Development Fund for Iraq, which transforms in turn to the bank to sell in local currency, but it was not enough to save the value of their currency collapse, under the terms of the price fall to become a day about 1120 dinars per dollar. ,
Thus pushing the Iraqi Central Bank’s decision to replace the currency Atkhama by deleting three zeros in an attempt to raise the value of the world.
Has announced Shabibi Iraqi Central Bank Governor completing the preparation of a plan to replace the current banknotes after the cancellation of three zeros, and include 30 trillion dinars (26 billion dollars), is the value of expected cash bloc, stressing that the timing will be determined by the government and parliament, Iraqi.
On the other hand, sees the first in the Central Bank of Iraq the appearance of Mohammed Saleh said that the fundamental problem in the timing of the single currency only, but the application of the new project will be according to mechanisms scalable in the form is not felt by the citizens, are put quantities in the market and the withdrawal of which is maintained by the government banks of the block and replace , and remain only in the possession of the citizens of the trading day, and can conduct his business in the two currencies of any existing and new,’s goods as current price, for example, JD 1000 The customer can give the seller the present paper a class 1000 dinars, as well as be able to give him a coin a new category of one dinar.
In the view of economists that this action is not enough to save the Iraqi dinar from collapse as long as the Iraqi economy is weak currency should always be linked strongly the country’s economy, and the best proof of that the United States where the dollar dropped because of debt and faltering economy, and generally coming days will determine, either revalue the Iraqi currency if there is demand for it globally or to depreciate more.
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In the past years have fallen Iraqi dinar value due to inflation and deterioration caused by economic sanctions imposed on Iraq after the Kuwait war, through the fall of Baghdad in 2003, to turn into a semi massacres day.
All these factors made the value of the dinar is going down, prompting the central bank in the same year resort to the adoption of a new mechanism to maintain the dinar’s exchange rate lies in the development of an auction foreign exchange to sell quantities of the dollar, resulting from the sale of oil in world markets, and converted to the Development Fund for Iraq, which transforms in turn to the bank to sell in local currency, but it was not enough to save the value of their currency collapse, under the terms of the price fall to become a day about 1120 dinars per dollar. ,
Thus pushing the Iraqi Central Bank’s decision to replace the currency Atkhama by deleting three zeros in an attempt to raise the value of the world.
Has announced Shabibi Iraqi Central Bank Governor completing the preparation of a plan to replace the current banknotes after the cancellation of three zeros, and include 30 trillion dinars (26 billion dollars), is the value of expected cash bloc, stressing that the timing will be determined by the government and parliament, Iraqi.
On the other hand, sees the first in the Central Bank of Iraq the appearance of Mohammed Saleh said that the fundamental problem in the timing of the single currency only, but the application of the new project will be according to mechanisms scalable in the form is not felt by the citizens, are put quantities in the market and the withdrawal of which is maintained by the government banks of the block and replace , and remain only in the possession of the citizens of the trading day, and can conduct his business in the two currencies of any existing and new,’s goods as current price, for example, JD 1000 The customer can give the seller the present paper a class 1000 dinars, as well as be able to give him a coin a new category of one dinar.
In the view of economists that this action is not enough to save the Iraqi dinar from collapse as long as the Iraqi economy is weak currency should always be linked strongly the country’s economy, and the best proof of that the United States where the dollar dropped because of debt and faltering economy, and generally coming days will determine, either revalue the Iraqi currency if there is demand for it globally or to depreciate more.
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