CBI: Deletion of zeros deferred until further notice; Project still under study

Posted by on Oct 27, 2013 | Leave a Comment

CBI: the project raise zeros from the currency is still deferred
03-07-2013 07:34 PM

Karbala (news) said the Central Bank of Iraq, that the project raise zeros from the currency is still postponed until further notice, indicating that the Bank’s gold reserves has not been affected by changes in the global market.

The central bank governor said Abdul Basit Turki told a news conference Wednesday afternoon on the sidelines of his visit to the city of Karbala for the opening of Dar financial control, which was attended by the Agency (news): The project raise zeros from the currency project is delayed due to the conditions experienced by the country, noting :The bank is still studying with experts and specialists how to change the currency but its implementation depends on the situation experienced by Iraq and this deferred offline.

Turki confirmed: that the bank reserves of gold is not affected by changes in the global market due to the financial plan developed by the bank a few months ago to avoid such a disaster, noting that the gold reserves in the Central Bank would be a big supporter of the Iraqi currency at any time, anywhere.

It is noteworthy that some economists believe that Iraq is not ready at the present time to delete the zeros from the Iraqi dinar, pointing out that the deletion needs to security and political stability as well as economic stability.

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