Expert calls for the deletion of zeros from the current currency instead of printing new currency ca

by **Rocky** Sun 13 Apr 2014, 4:46 pm

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Expert calls for the deletion of zeros from the current currency instead of printing new currency ca

by Rocky Sun 13 Apr 2014, 4:46 pm

Expert calls for the deletion of zeros from the current currency instead of printing new currency cash

Saturday, April 13 / April 2014 16:51

The head of the Economic Studies at the University of Kufa, an economist Raad Twigg, the central bank to take comprehensive measures to replace the currency and delete the three zeroes and determine the exchange rate of new Iraqi currency, instead of putting up a new currency confuse the deal in the local market.
Twigg said, that "put the Iraqi Central Bank to cash currency with new specifications without pulling equivalent represents an expansion in the money supply in the local market, and thus reflect negatively in the creation of large inflationary effects."
He confirmed that the addition of new cash currency with the old currency would be a duplication of currency exchange market has created an unbalanced cash and Aald blurry in daily trading of the currency. "
He continued, "The deletion of zeros from the currency will reduce the current rate of inflation and reduce the large cash trading currencies in the domestic market also reduces the incidence of theft and forgery of currency cash."
The Central Bank of Iraq announced, for re-printing banknotes with pictures of the Iraqi new.
The bank said in a press statement, said that the re-print the new series of banknotes currently in circulation and the Iraqi pictures of new protected more, using a good quality of printing paper, with the addition of some signs of security. "
He pointed out that the current banknotes will continue to be traded with the new will not be pulling rolling them currently or in the future

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