New Iraqi Bank Notes Will Reduce Demand of U.S Dollar: Finance Committee

A member of the Iraqi Parliamentary Finance Committee Jabbar Al Abadi credited to the Iraqi Central Bank regarding currency strength of characters in the categories of 50 thousand and 100 thousand Iraqi dinars, to decrease the demand of the U.S dollars. Jabbar said in his press statement that the Iraqi Central Bank would issue new Iraqi dinar currency of large categories of 50 thousand and 100 thousand Iraqi dinars to cut back the demand of U.S dollars and foreign currencies, because there is a rise in foreign exchange rates against the Iraqi dinar. He also pointed out that these currencies will be launched very soon by the Iraqi Central Bank.

According to our authentic sources from the Iraqi Central Bank, the main objective of launching new bank notes of 50 thousand and 100 thousand Iraqi dinars is to decrease the demand and control of the U.S dollar from the Iraqi markets. The new bank notes meet all the needs of the Iraqi currency market. But most financial and economic experts said that the project of deletion of zeros should be launched before printing new bank notes, because this project will reduce the work load in the Iraqi banking system and it will also shorten the weight of currency to carry from one place to another.

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