Parliament and Finance Cmte Support "Revalue" (sic) of Iraqi Dinar

The Iraqi Parliament and the Finance Committee support the Central Bank of Iraq (CBI)’s efforts to revalue of the Iraqi Dinar through the removal of three zeros from the currency, according to a report from AKnews.

The CBI has announced that it has finalized plans to remove three zeros from the Iraqi currency in order to revalue it. The smallest unit of the current Iraqi current is 250 Iraqi Dinars which is equivalent to $0.20.

The removal of three zeros is expected to raise the value of the Dinar as well as facilitate dealing with the currency and the payroll system in the country.

The Iraqi government and the securities committee have raised concerns that the process will negatively affect the Iraqi stock market.

51 Responses to Parliament and Finance Cmte Support "Revalue" (sic) of Iraqi Dinar

  1. Barry 23rd January 2013 at 23:47 #

    Michael valdez - "i just left iraq and its true they have sucked most of the 000 off the street"

    Complete and utter garbage. Iraq haven't taken any money out of circulation (what do they go around stealing 99.9% of everyone wages & savings like a Communist dictatorship?)

    Iraq’s Money supply by Year:-

    1990′s- Approx 25bn banknotes & approx 50bn Money supply.
    2004 – (7.1tn banknotes) / (12.2tn total money supply)
    2005 – (9.1tn banknotes) / (14.5tn total money supply)
    2006 – (11.0tn banknotes) / (21.1tn total money supply)
    2007 – (14.2tn banknotes) / (27.0tn total money supply)
    2008 – (18.5tn banknotes) / (36.9tn total money supply)
    2009 – (21.8tn banknotes) / (46.4tn total money supply)
    2010 – (24.3tn banknotes) / (60.4tn total money supply)
    2011 – (26.3tn banknotes) / (65.1tn total money supply)
    2012 – (29.8tn banknotes) / (72.0tn total money supply)

    Iraqi Dinar Money Supply Jan 2013 = 79.8bn

    There are actually more Dinar's in circulation now than there have ever been as can be openly and plainly seen on the CBI's own website. "Iraq has taken all the money out" is a year's old long-debunked pumper delusion that looks sillier as Iraq's money supply continues to grow as each year goes by...