Economist : raise zeros from the currency creates controversy economically and 30 trillion Iraqi dinars are traded in the market
Economist said that the deletion of zeros in place of the Iraqi currency to create sensation between supporters and opponents about what that might entail for the effects of the economic sector, especially the volume of currency in circulation in the Iraqi market is estimated about 30 trillion dinars.
The name Abd al-Hadi in contact with the agency, the independent press (Iba) supporters believe that lifting the zeros will create a psychological effect to the citizen through the strengthening of its currency and adopted more widely, rather than the foreign currency that is demand for it as characterized by its high value and ease of pregnancy and the difficulty of counterfeiting.
Abdul Hadi said the process of lifting the zeroes will raise the value of the currency and reduces the demand for hard currency which is distinguished by force and will lead to re-balance between the value of local and foreign currency and give it market power at home and abroad.
Abizaid and Abdul Hadi either oppose the process of lifting the zeroes believe that the dinar will lose its value and depend on the price index in the local market.
And that through the gradual rise of prices would lead to high rates of inflation, so that we lift the zeroes will increase prices and rising inflation rate and have to repeat the same process again.
Abdul-Hadi We are with the postponement of the process at this time because it will create confusion in the Iraqi market and will be charged the Central Bank of huge amounts of money through the process of drawing, printing, replacement, especially the amount of currency in circulation in the Iraqi market is currently estimated at about 30 trillion dinars compared to what it was the amount of currency on our web site in 2004, which amounted to 4 trillion dinars.
He noted that the approach to stabilize the market and the national currency will be better and more effective than replacement with a new value and other currency.
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