Iraqi Dinar 123 News:– On Tuesday, a member of Iraqi Parliamentary Economic and Investment Committee Najiba Najib issued a press statement that issuance of small category of Banknotes would empower the Iraqi dinar currency. Najiba Najib further added in her press statement that when we consider making stronger economic conditions in the country, we should reconsider the value of Iraqi dinar currency against most of the major foreign currencies. Point to be noted that Iraqi dinar currency is becoming stronger against the U.S dollar exchange rate and it is not losing its strength in the local and international currency markets.
Najiba Najib further added that modifications in the revenue sources are the most important ways to reinforce the Iraqi dinar currency because Iraq is much dependant on its oil export revenues that is reflecting a negative impact on Iraqi economy. She also indicated that Iraqi monetary policy needs to be reconsidered by the Iraqi Central Bank. This can be either elimination of three zeros from Iraqi currency or issuance of new small category Banknotes. It is most important to maintain and stabilize the Iraqi dinar exchange rate against most of the foreign currencies, especially against the U.S dollar. It will be most powerful to stabilize the Iraqi economy and to maintain country’s fiscal policy.