Feasibility of new coins draws conflicting views from economist and politicians; Dropping Zeros still an option next year

Posted by on Dec 03, 2013 | Leave a Comment

Suffering of the Iraqi street of the scarcity of the currency of a small category (250, 500 and 1000) dinars, and found it undamaged and Mthtrh, and became citizens upset of used and especially the owners of taxis and commercial markets, but they accepted the deal out to preserve the continuation of their work flow.

attributed the number of economists reason for the scarcity of Currency with the small category and ease of damage to the poor quality of paper used and the lack of printing works, stressing that the central bank discussed the possibility of issuing coins of small denominations to be a substitute for paper.

said a member of the committee of economy and investment MP / coalition in Iraq / Nora Albjara, the scarcity and damage Currency with the small category due to the weakness of its value deliberative and the poor quality of the paper used to print.

added Albjara that the central bank will Basaddaramlh metal groups small alternative paper, noting that the new currency will be the quality is good and easy to handle and meet the needs of citizens.

showed: that the bank will be the beginning of the year the next issue of the new currency, and will dispense paper currency damaged gradually, adding that the currency small is of great significance in the market by re-remaining amount (scrap).

denied Albjara: to be the scarcity of the currency of the small category associated with higher rates, asserting that Artaf prices due to the greed of the merchants and the lack of goods in the market and exploited by others.

For his part, member of the Economic Commission MP / National Alliance / Ibrahim stirrup, that the currency of a small category does not have great value in trading and buying and selling, so it has been dispensed with and became its presence virtually non-existent in market.

added stirrup central bank will issue coins, metal, alternative damaged after a process of deletion of zeros in the next parliamentary session, which Tattabramlah reform administrative currency cash.

said: that the central bank is printing the currency of a small class, but the lack of value have vanished on the market, being a Ataatlaúm with the size requirements of the citizens.

For his part, banking expert Majid picture, that restructuring the currency and delete the zeros calls to increase the categories of the nominal value of the few, and issued coin to ease in trading and non-damaging, indicating that small groups can also lead to facilitate the process of policy-making price and reduce the cost of trading operations.

between: he does not have a specific time for the issuance of the coin and the application of the law to delete the zeros because of this law and faced major conflicts in political terms, and through government intervention the central bank.

comment closed

Advertisement

Subscription

You can subscribe by e-mail to receive news updates and breaking stories.

Archives

 

August 2017
M T W T F S S
« Dec    
 123456
78910111213
14151617181920
21222324252627
28293031