Improved Value of the Iraqi Dinar Encourages Some Countries to Want to Use It
|February 6, 2014||Filled under All Dinar Trade Articles|
A member of the Finance Committee MP / coalition of Kurdish blocs / Dler capable, that the relative improvement of the value of the Iraqi dinar against the U.S. dollar during the current period, making some states want to deal with it.
He is capable of: that the Iraqi dinar is improving day after day, thanks to the new monetary policy pursued by the central bank, prompting some countries such as India and neighboring countries wishing to deal in the business processes.
He pointed out that the increase in the confidence of the world in Iraqi dinar will make it difficult international currency, likely that the coming weeks will see an improvement over the value of the dinar against the dollar, and this will enhance the confidence of the world do.
India has approached the Iraqi government, the adoption of dealing in local currencies in the process of exchange of Commerce of the two countries instead of the dollar in order to support the Iraqi and Indian currencies.
The Finance Committee has confirmed that 2014 will see the deletion of zeros from the Iraqi currency, are described: The delete will be in coordination with the Central Bank.
Said committee member Abdul Hussein al-Yasiri in a press statement: The process of deletion of zeros from the national currency will begin during 2014, through an agreement with the central bank, noting: This project will lead to reducing the proportion of the national currency in circulation from four billion to one billion.
Added: The value will be reduced to the size of the quarter and this will enhance the value and easy to transport, pointing out that fraud or manipulation of currency cash, it will be very difficult.
The CBI identified earlier in the beginning of this year will see the implementation of the project to delete the three zeroes from the national currency, but the Iraqi government has demanded the bank to wait to apply the project, fearing the emergence of counterfeit currency during the switching process.
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