The New 50K Category Will Have No Impact on Deleting Zeros

Iraqi Dinar 123 News:– On Tuesday, the Central Bank of Iraq issued a statement that launching the 50K category Iraqi dinars would not reflect any impact on the project of deletion of three zeros from the Iraqi currency. The Bank pointed out that Iraqi social and economic conditions are preventing the execution of this project. Walid Idi, the director general of the banking and credit in the Central Bank said in an interview program and presented by Alsumaria TV that the project of printing new large category of 50 thousand Iraqi dinars not considered as the alternate of the project of deletion of three zeros for Iraqi dinar currency. He added that the project of elimination of three zeros is still in hold and its execution can be delayed but it will not be finished.

He further added that issuance of 50K large amount category Iraqi dinars by the Iraqi Central Bank would provide a handsome path for the project of deletion of three zeros. It would also reduce the demand of the U.S dollars because the high value of new 50K Iraqi dinar. Idi also indicated about the current social and economic crises that are being experiencing in the country and these are considered most important factors preventing to execution for the project of deletion of three zeros from Iraqi dinars. A member of the board of directors in the Iraqi Central Bank Ihsan Al Yasiri said on Sunday that the issuance of large amount of 50K Iraqi dinar currency has blocked the way for the implementation of deletion of three zeros project. It would decrease the demand for the U.S dollars in the Iraqi domestic markets. He pointed out that there is not any kind of direct link of new project of issuance of 50K Iraqi dinars to the current financial crisis in the country.

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