A coin flying the dinar value and inflation prevent circulation between citizens

A coin flying the dinar value and inflation prevent circulation between citizens



2014-03-18 (00: 30 pm)



 Baghdad Rami Al-Salhi
Economists said that inflation in the country behind the failed draft minted coins, according to the Central Bank and the banking system have failed because they did not they impose her cash transactions through distributed in Government salaries or deposits at private banks, stressing that the mintage is necessary for the project to delete zeros from dinar to it in the interest of raising the value of the dinar.
A member of the Finance Committee in Parliament, Abdul-Amir Hussain in an interview with the "range" to "coin has a positive impact on the Iraqi dinar, especially if a delete zeros from dinar", noting that "the coin will become an important and effective role in raising the value of Iraqi dinar."
And Hussein blamed the coin failed, despite many coined with the replacement of the Iraqi dinar after 2003, the Central Bank as a responsible fiscal and monetary policies walstragiat.
The financial expert said Ghazi al-kinani said in an interview with the "range" "it is not possible for the coin to succeed in the country, but that it exists in the world both economically developed countries and emerging economic powers".
He drew "the coin cannot be used in Iraq as long as there is inflation in prices," adding that "the success of use is remove three zeros from Iraqi dinar."
The expert added that "the Central Bank issued coins for circulation in shopping or transport and other", stressing the importance of the coin in that it does not consume as paper currency ". Revealing a "withdrawal of Central Bank coin (Silver) after failure and sold through auctions and some are preserved in some banks.
The Economist said maytham winfred (range) "coin of advantages over paper currency with no damage and long life, while their disadvantages lie in heavy weight and the difficulty of carrying it."
Winfred said that "due to the failure of a coin is not be used only to buy cheap goods limited", pointing out that "inflation in the prices of goods from using this currency.
"The Central Bank and the banking system failed to make the circulation of coins in the country, by not imposing distribution with salaries and not by private banks and Government".
"Ways to the success of the coin in the country is the deletion of zeros from the Iraqi dinar", stating that "this option is excluded until after the elections."

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