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Two: several reasons behind the absence of coins
8/10/2014 0:00
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BAGHDAD Mustafa al-Hashemi
The issuance of the currency of the most important duties of the central bank in any country in the world according to the laws of the central banks, which give them the right to issue currency and specifications and features typical. And you know the currency exchange as a way to buy and sell goods and services is seen as a way to store wealth, which is actually a measure of wealth, unless impaired by the economic and political conditions and lost this property.
The Bank has recently printed a number of categories of small banknotes and specifications about the bank said it's slow damage and difficult to forge, along with a printed paper she made special high standard, noting that it comes as part of the development of a series of banknotes in circulation. The reason comes to mind not minting new coins, along with pumping paper currency to the public.
Economic expert, Dr. Hilal Taan answered this question by saying that the stability of the general situation in the country's deep impact on all economic matters, including the minting coins.
He Taan told (morning) that inflation, which happened in Iraq in the nineties of the last century, during the international sanctions led to a decline in the value of the Iraqi currency in general what led them to the public aversion because of the heavy weight in the pocket against the lower value and lower their purchasing power.
Coin coin is a cutting of metal are divided into categories according to specific cash and certain sizes into account the central bank to be Madenha equivalent value in exchange for the value price, also takes into account that carry national symbols and history of minting. Is noteworthy that the minting of coins prior to issue paper currency, according to historical evidence.
He said economic expert, said Iraq's economy (which we can call it the economy crisis) does not help in these circumstances, the minting of coins because he suffers are conditions turbulent and unstable as well as on the public accustomed to carrying banknotes for more than twenty years, and therefore, the public acceptance of great significance in helping to spread traded.
He explained that the paper currency performs its task since that time has been enriched so much for minting coins, indicating that the central bank has in the 2004 basic categories of cash worth 25, 50 and 100 dinars, but the reaction of the audience was not accepted by the end Bantrza to re withdrawn and the continuation of work currency paper.
He said the coins not bear to large values shall be used as is the case with paper money and its weight is heavier and needs a big place for safekeeping in case Aujsenh plentiful and this also represents one of the reasons not to think about the central bank coining money.
For his part, the adviser said the banking Dr. Essam Mahouelle that the central bank is an institution of cash from its duty to the issuance of the currency and maintain the value and control of financial institutions and the banking system in the country, in addition to maintaining the exchange rates and the creation of a state of equilibrium in the markets to stabilize and reduce inflation through exercise monetary authority granted to him under the law.
He added Mahouelle told (morning) that the central bank to print a series of currency comes as a measure to withdraw banknotes and replace damaged new editions without affecting its value.
He said the issue of currency was the reason behind the foundation of the establishment of central banks all over the world, explaining that he grew up in Sweden, the first central bank in the world and the government in the year 1668 after he was a follower of private property. Bank of England and grew up in the eighties of the 17th century because of the need for England to finance the expenses of the war against France has been limited to the process of issuing money without any bank last went to the private sector.
He argued that France's Napoleon Bonaparte established in 1800 the Central Bank of France and then successively the establishment of central banks in many European countries. Any of the nineteenth century was the century that saw the emergence of central banks to the economic arena .olal reason behind this is the multiplicity of commercial banks issued money (In Germany, for example, there were 33 banks issued each and every one of them its own currency).
The Iraq in 1947, the establishment of the first central bank in the Arab world and in the name of (the National Bank of Iraq) Calendar issued in September 1950 and the first meal of the banknotes and then changed its name in 1956 after a 10 years of its inception to the CBI.
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8/10/2014 0:00
[You must be registered and logged in to see this image.]
BAGHDAD Mustafa al-Hashemi
The issuance of the currency of the most important duties of the central bank in any country in the world according to the laws of the central banks, which give them the right to issue currency and specifications and features typical. And you know the currency exchange as a way to buy and sell goods and services is seen as a way to store wealth, which is actually a measure of wealth, unless impaired by the economic and political conditions and lost this property.
The Bank has recently printed a number of categories of small banknotes and specifications about the bank said it's slow damage and difficult to forge, along with a printed paper she made special high standard, noting that it comes as part of the development of a series of banknotes in circulation. The reason comes to mind not minting new coins, along with pumping paper currency to the public.
Economic expert, Dr. Hilal Taan answered this question by saying that the stability of the general situation in the country's deep impact on all economic matters, including the minting coins.
He Taan told (morning) that inflation, which happened in Iraq in the nineties of the last century, during the international sanctions led to a decline in the value of the Iraqi currency in general what led them to the public aversion because of the heavy weight in the pocket against the lower value and lower their purchasing power.
Coin coin is a cutting of metal are divided into categories according to specific cash and certain sizes into account the central bank to be Madenha equivalent value in exchange for the value price, also takes into account that carry national symbols and history of minting. Is noteworthy that the minting of coins prior to issue paper currency, according to historical evidence.
He said economic expert, said Iraq's economy (which we can call it the economy crisis) does not help in these circumstances, the minting of coins because he suffers are conditions turbulent and unstable as well as on the public accustomed to carrying banknotes for more than twenty years, and therefore, the public acceptance of great significance in helping to spread traded.
He explained that the paper currency performs its task since that time has been enriched so much for minting coins, indicating that the central bank has in the 2004 basic categories of cash worth 25, 50 and 100 dinars, but the reaction of the audience was not accepted by the end Bantrza to re withdrawn and the continuation of work currency paper.
He said the coins not bear to large values shall be used as is the case with paper money and its weight is heavier and needs a big place for safekeeping in case Aujsenh plentiful and this also represents one of the reasons not to think about the central bank coining money.
For his part, the adviser said the banking Dr. Essam Mahouelle that the central bank is an institution of cash from its duty to the issuance of the currency and maintain the value and control of financial institutions and the banking system in the country, in addition to maintaining the exchange rates and the creation of a state of equilibrium in the markets to stabilize and reduce inflation through exercise monetary authority granted to him under the law.
He added Mahouelle told (morning) that the central bank to print a series of currency comes as a measure to withdraw banknotes and replace damaged new editions without affecting its value.
He said the issue of currency was the reason behind the foundation of the establishment of central banks all over the world, explaining that he grew up in Sweden, the first central bank in the world and the government in the year 1668 after he was a follower of private property. Bank of England and grew up in the eighties of the 17th century because of the need for England to finance the expenses of the war against France has been limited to the process of issuing money without any bank last went to the private sector.
He argued that France's Napoleon Bonaparte established in 1800 the Central Bank of France and then successively the establishment of central banks in many European countries. Any of the nineteenth century was the century that saw the emergence of central banks to the economic arena .olal reason behind this is the multiplicity of commercial banks issued money (In Germany, for example, there were 33 banks issued each and every one of them its own currency).
The Iraq in 1947, the establishment of the first central bank in the Arab world and in the name of (the National Bank of Iraq) Calendar issued in September 1950 and the first meal of the banknotes and then changed its name in 1956 after a 10 years of its inception to the CBI.
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