Explain the details of the Central Bank of Iraq Iraq’s new currency which will be issued within three or four years to come, which will be in three languages, including Kurdish, including categories of mineral dinars.
The adviser said the Bank of the appearance of Mohammed Saleh in a statement to the site (Khandan): The idea of changing the Iraqi currency began to mature gradually, although referral to the Economic Committee in the Federal Council of Ministers since (2007), indicating that the existing currency will go through two stages; first: Delete the zeros. The second restructuring, and launch the new currency for trading in the markets during the three or four years.
And favor: The new currency will be in three languages (Arabic, Kurdish, English), as well as there are categories of small metal, indicating that the experience of changing the currency took place in many countries and have been successful, as in Turkey, Germany and Russia.
And the deletion of zeros, said the central bank adviser: The category Iraqi monetary deleted, including three zeros, ie, (1.000) “thousand dinars,” becomes “one dinar” only, as well as to the others, and we will exchange large and small k (50) “Fifty dinars “or (100)” a hundred dinars, “the equivalent (50,000)” Fifty thousand “or (100,000)” a hundred thousand dinars, “At present, emphasizing changing the currency does not affect the obligations with the States, or deal with it internally.
The committees and civic organizations and government figures and economists, have expressed their fear of change the currency, because of expectations that it will see a wide range of corruption after the introduction of the altered and forged new.