The Mission of the New Iraqi Dinar Is To Raise the Price in the Currency Market

The Mission of the New Iraqi Dinar Is To Raise the Price in the Currency Market
October 26th, 2010

The deterioration that took place in Iraqi dinars since the early eighties of the last century as a result of economic policies random non-scientific, which followed the Iraqi political system before

Who pursued the policy of broad consumer spending Bcatrih military and civil cause of the deterioration of the Iraqi dinar to the bottom so that the purchasing power of the Iraqi dinar today fils Iraqi equivalent prices in 1988.

That monetary policy Iraqi conscious exercised by the Central Bank of Iraq’s current political circumstances, economic, social, very difficult, and hanging over the fact of the bombings and the destruction of infrastructure, but the Iraqi Central Bank was able to achieve balance and stability of the Iraqi dinar, to maintain the cover of the Iraqi currency (reserve currency foreign and gold) in spite of government pressure, the use of this balance in public investment, but the Central Bank of Iraq has managed to fend off these pressures, and work according to the contexts of the global central banks

The issuance of the new Iraqi dinar should not be designed to delete the zeros, but must be placed a price equivalent to the U.S. dollar, the fact that the Middle East regions of the dollar, it must be new dinar equation:

New Iraqi Dinars IQD is equivalent to 1220 and added to the cost of issuing one new dinar. And be here the issuance process meaningful is not the deletion of zeros, but the withdrawal of currency excess of the market and therefore absorb part of the inflated prices, and facilitate the process of trade, and improving financial control of the governmental apparatus, and to facilitate the feasibility studies for investment projects, and raise administrative efficiency. And reduce the phenomenon of administrative corruption.

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