Hat tip to Carlablum on the forum:
Banking expert: Delete the three zeros from the Iraqi currency will impact positively on the Iraqi economy
2010-05-09 12:47:49 05/09/2010 12:47:49
BAGHDAD (Iba) Iraqi bank expert said that the process of deleting three zeros from the Iraqi currency will have a positive impact on the Iraqi economy to Tahedvh of an amendment to the conditions of the Iraqi currency in general.
Said Abdul Aziz Hassoun in contact with the agency, the independent press (Iba) “Many countries have taken action himself, including Turkey, which deleted six zeroes from the currency, and therefore the right of the Iraqi Central Bank could adjust the exchange rate this way, especially since there is a difference large numbers no longer reflects the value of domestic production of Iraq. “
“If the exchange rate is adjusted properly the matter would be meaningful as a whole, especially the central bank set the mechanisms and plans for the replacement of banknotes in another new value and the form and a suitable period to allow replacement of all their bank notes.”