CBI says it is postponing any plans related to monetary policy changes (Deletion of Zeros, New Banknotes)

Posted by on Dec 09, 2013 | Leave a Comment

Baghdad: Iraq News Network – The Central Bank of inability to delete the zeros of the Iraqi currency, or add new banknotes, for fear of confusing the Iraqi market.

Source confirmed early in the management of the central bank, “the world”, that “the head of the central bank, and after consultation with officials and advisers in the bank, decided to postpone any new process related to the currency monetary Iraq, including add categories and a new paper or delete the zeros.

“the source said,” was to raise this issue in one of the sessions of the Council of Ministers, which hosted during which the central bank head and talked about the obstacles that can affect the levels of the market and the Iraqi economy in general, considering that the Iraqi experience does not resemble the experiences of other countries.

“and” The central bank is unable to control the foreign currency flowing into Iraq and some of them may be false because Iraq has become an open market and the money will be transferred by banking offices and remittances, and by people traveling to and from Iraq. “

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