The Central Bank of Iraq intends to put large amounts of currency of small groups next month

The Central Bank of Iraq intends to put large amounts of currency of small groups next month



17-09-2018 02:15 PM

The Euphrates -

The governor of the Central Bank Ali Al-Alak, on Monday, the intention of the bank to put large amounts of currency from small groups in October next, pointing out that it is a plan to compensate for the existing small groups damaged.

Al-Aalak said in a press statement that "we have small currencies in appropriate quantities, but the movement and circulation, use and lack of care of them lead to damage quickly, as the Central Bank of Iraq after 2004 to mint coins in large quantities but did not receive acceptance or popularity in the local market, Which caused his losses, because the market was accustomed to the paper currency, which makes it difficult to market the currency.

He added that "the central bank recently put in place a plan to compensate for the existing small categories damaged, as next month will be large quantities of them will meet the needs of the market completely."

"The bank receives a lot of damaged banknotes and replaced them with new banknotes through an expanded committee to examine them, to make sure their validity, our doors are open to citizens to receive any amounts of currency damaged.

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