CBI attributes the scarcity of quality banknotes (dinars) due to ineffecient replacement methods

Posted by on Oct 28, 2013 | Leave a Comment

Central Bank attributed the presence of the scarcity of good in paper currencies to the weakness of “mechanism” to receive damaged

11/10/2013 19:28

He attributed the Central Bank of Iraq, said Thursday there is scarcity in Banknotes good with small category in the markets to the weakness in the mechanism of receiving damaged, and pointed out that “careful” not to treat citizens or markets currencies damaged, because it works to continually replace, while confirmed having confounded much of those currencies potable ready to put up for trading.

The governor of the central bank and agency Abdul Basit Turki said in an interview to (range Press), “The Central Bank is keen to not be there Banknotes damaged and in large quantities within reach of the citizen, or even in the market, because it works on them or replace them in ways that legal” noting that “the central bank has a large inventory of currencies, and has control of the Iraqi currency trading can not be that there is a lack of currency or something like that.”

The Turkish that “a mechanism to receive the central bank currency Damaged be through banks only, because the Directorates Bank does not have a presence in the market,” noting that “the bank records sometimes scarce in some categories of currencies small, because the damaged ones is not up to the bank in regularly until they are replaced with new ones. “

It is noteworthy that the phenomenon of the spread of the currency damaged or المتهرئة become a nuisance to a lot of citizens and traders, taxi drivers, because they are upset to handle any paper money cut or connected to, as well as that this phenomenon imposed itself on the circulation of people and led them to accept the deal currency damaged to preserve the continuation of their work well.

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