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KO15
02-08-2010, 02:23 AM
Another article on redenomination...

Financial describe the central bank attempts to remove the zeros from the currency as "useless"
07/02/2010 07:45

Sulaimaniya, February 7 (AKnews) - The Central Bank of Iraq that there is a plan to remove zeros from the Iraqi currency before the end of this year, while the Under-Minister of Finance of Iraq that such a step would not affect the physical and economic situation vs. Iraq.
In a statement issued by the Central Bank of Iraq that "this plan was developed five years ago and so far have been the end of 50% of the necessary preparations for its implementation, and we hope we can start implementation by the end of the year."

The statement added that "the objective of removing the zeroes of the Iraqi currency is to facilitate the use and trading them."
For his part, Undersecretary of the Ministry of Finance Fadhil prophet of the Kurdistan News Agency (AKnews) that "this move is useless in economic terms, since the value of the Iraqi currency against the dollar and the euro will remain as is" .. He explained by saying "the only benefit of this step may be psychologically for the citizens, and not in the economic and practical aspects."

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