Re: 50K Currency Class Won’t Do Any Good to Stable the Economy : Economist

by **Ponee** Fri Nov 13, 2015 10:15 am

50K Currency Class Won’t Do Any Good to Stable the Economy : Economist 2015-Nov-12-5644ad03b7f98

Economist: the issuance of a class 50 000 dinars, will not contribute to the stability of the market

Former economist at the Central Bank of Iraq on behalf of Abdul Hadi, Thursday, that the issuance of 50 000 dinars category will not contribute to the stability of the market, stressing that large transactions are covered through the dollar.

Said Abdul Hadi in an interview that "the issue of monetary Category 50,000 dinars by the Central Bank will not contribute to the reduction of non-market stability, especially price index of the market and inflation," he said, adding that "there are changes in the data economies on the ground and contraction of the Iraqi economic reality ".

He said Abdul Hadi "This category of cash would raise imposed on a bank in the management of operational costs and the organization of the currency," explaining that "there will be no desired results to facilitate transactions."
Abdul Hadi said that "monetary category currently in circulation, amounting to 25 000 dinars are sufficient to deal them through individual and corporate transactions, while the big deals are covered through the dollar."

The Central Bank of Iraq, on Wednesday (November 11, 2015) for issuing a new banknote fifty thousand Dinars category, attributing this to the completion of the Iraqi Securities monetary structure and the development of high value in the trading category.

11.13.2015

http://burathanews.c...ews/279756.html

by **Ponee** Fri Nov 13, 2015 10:16 am

Iraqi Dinar 123 News:– On Thursday, a former economist at the Iraqi Central Bank confirmed that issuance of new Iraqi dinar currency of 50K category would not participate in the stability of Iraqi dinar currency in domestic markets. He stressed that a large amount of transactions will be covered by U.S dollars. Abdul Hadi further added in a press interview that issuance of 50K new Iraqi dinar currency by the Iraqi Central Bank would not be able to participate in the reduction of instability in the domestic currency market, especially in the domestic market currency price and inflation rate in the country. He added that new 50K Iraqi dinar currency would reduce the management costs of organizations and financial institutions.

He further explained that there would not be any specific results in the transaction facilities but it would significantly reduce the work load in the banking system and financial institutions in the country. Abdul Hadi added that 25K Iraq dinar category currency was considered as the highest amount of currency among currently circulating currencies in the country. Most of the financial institutions and banks were dealing in 25K currency with customers and heavy deals were being covered using the U.S dollars. On 11^th November 2015, the Central Bank of Iraq announced the departure of new Iraqi dinar currency of 50K category in the Iraqi domestic markets. This high value currency would provide an ease for Iraqi banks and for all its financial institutions in the country.