As rumors are already there in the financial markets about the denomination of Iraqi Dinar, the recent statements on http://www.iraqidinar.net from the Central Bank of Iraq and Parliamentary Finance Committee proved to be the fuel to the fire. The issue has been discussed for the last three months, but the recent negotiations of government financial institutions accelerated the pulse of the Iraqi Dinar holder again. Iraqi Dinar News IDN reports that a member of parliamentary Finance Committee Abdul Hussain al Yasiri has said that the deletion of zeros was the official decision of CBI but the implementation requires suitable political and economic environment.
He added that local currency will be reduced from four billion to one billion after this change. According to the CBI, the deletion of the zeros is part of the new monitory protocol and currency management.
Haitham al-Juboori, a member of the parliamentary Finance Committee says that this currency reform will lessen the dollar demand in the country and ultimately Iraqi Dinar will rise in repute and value in the world financial markets
Financial experts gave their opinion that there are 30 trillion dinars are circulating in the financial markets, so it would be a real test of the government to pull back all and then discard them without any disturbance in the moth flow of the transactions in banks.
The fact of the matter is that a sudden change in the value of Iraqi Dinar is behind expectations. At the same time, signals of economic growth of Iraq are there.
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