Divergent views about the central bank's intention to issue a new currency alongside the existing
23/04/2014 17:56
Ali Abdul-Hussein
The effects of central bank announced recently about the issuance of a new currency, along with the existing current remarkable variation among everyone, as some felt that this step Stmtn the local currency against attempts to falsify, especially since the new currency will contain features larger than its predecessor.
Newspaper (public opinion) and found that some people discuss about this matter, to get to know some of the differences in opinions about it, and were as follows:
Economic expert Murad Ali said the subject of the issuance of a new currency, is the subject of an administrative regard to improving the system of cash payments and has nothing to do by inflation permanently.
He added, "This project is an old introduction to the project to delete the zeros to take advantage of improving the cash payments and the issuance of new editions of cash."
He continued, "The issuance of the new currency will be in line with the old currency, this does not mean that the old currency is good but it must evolve, since this matter will improve the system of cash payments will not affect the currency, but will be part of the natural growth of currency cash."
No different opinion, an economist Morteza Abdul Hussein Murad Ali opinion, which confirms that the issuance of a new currency unrelated to the process of inflation.
Abdul-Hussein said that "the action taken by the central bank to issue a new currency is a kind of simple structure, to issue new banknotes sophisticated technically and technologically in order not to visit and the distinctive marks."
He pointed out that there are proportions of the consumption of the old currency must be changed after a period of 10 years on the print.
He said, "This will make it the biggest issue coins devoted to the process of trading in large quantities, as the dinar will remain in circulation because the monetary value of machining large reduce the use of multiple sheets and purchasing power will not be affected and will not be eligible for inflation."
On the other hand criticized the parliamentary Finance Committee member Abdul Hussein al-Yasiri, measures the central bank to issue a new currency, noting that the bank's economists believe the currency like a simple thing they can manipulate it at any time.
He said that the currency is subject to the law of supply and demand, the greater the money supply in the market, the less demand for them, and this leads to inflated currency in the local market, adding that the presentation of the new currency, along with the old currency will affect the state of the market, according to economic theory concerning the dynamics of prices.
He called Yasiri, the central bank to take measures and steps are better than the issuance of a new currency.
Otherwise describe a member of the parliamentary finance committee for the Kurdistan Alliance, Ahmed Hassan Faizullah, printing new banknotes as "a waste of time."
He said: "The currency currently in circulation do not require replacing appropriate" and called on the central bank to "put a positive plans for the stability of the Iraqi dinar against the U.S. dollar, instead of issuing a new currency to overwhelm the Iraqi market."
And saw an economist Mohammad Hadi said the decision to replace the Iraqi Central Bank Iraqi currency is a good step, but it "is an inflationary pressure in the period of political tension that is currently taking place in Iraq and with the season approaching parliamentary elections."
Hadi said that the circulation of the new currency with no withdrawal of the old currency, would be a significant monetary inflation in the domestic market. "
He noted that "the central bank issued previously currency monetary metal after the change, but it disappeared from circulation and the effect that some actors smuggled abroad to take advantage of mineral makeup where" pointing to release monetary metal is a qualitative improvement whatsoever in circulation, but the important thing is to space who will be the trading currency. So wholesome saw Elias Abbou adviser North Bank for Finance and Investment, said that the subject of the issuance of the new currency will be certain specifications include specifications and lack of safety in cases of fraud will be issued along with the current monetary currency that is pulling the old currency later.
He said, "This case is not open and an absolute inject new cash currency without withdrawing the old currency because this would lead to an increase in prices and create some kind of inflation."
The Central Bank of Iraq, announced the re-printing the banknotes of Iraq, noting that the new images will be printed and include more protection.
He said in a statement, "The currency will continue to be traded now, and the new currency will help the blind to see the value of these categories," explaining that he would be included in the currency of the new dates Hijri and Gregorian and the signing of the Governor of the Central Bank and the Agency Abdul Basit Turki Saeed, with the addition of some signs of security.
He pointed out that "the current banknotes will continue to be traded with the new will not be pulling rolling them currently or in the future."
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23/04/2014 17:56
Ali Abdul-Hussein
The effects of central bank announced recently about the issuance of a new currency, along with the existing current remarkable variation among everyone, as some felt that this step Stmtn the local currency against attempts to falsify, especially since the new currency will contain features larger than its predecessor.
Newspaper (public opinion) and found that some people discuss about this matter, to get to know some of the differences in opinions about it, and were as follows:
Economic expert Murad Ali said the subject of the issuance of a new currency, is the subject of an administrative regard to improving the system of cash payments and has nothing to do by inflation permanently.
He added, "This project is an old introduction to the project to delete the zeros to take advantage of improving the cash payments and the issuance of new editions of cash."
He continued, "The issuance of the new currency will be in line with the old currency, this does not mean that the old currency is good but it must evolve, since this matter will improve the system of cash payments will not affect the currency, but will be part of the natural growth of currency cash."
No different opinion, an economist Morteza Abdul Hussein Murad Ali opinion, which confirms that the issuance of a new currency unrelated to the process of inflation.
Abdul-Hussein said that "the action taken by the central bank to issue a new currency is a kind of simple structure, to issue new banknotes sophisticated technically and technologically in order not to visit and the distinctive marks."
He pointed out that there are proportions of the consumption of the old currency must be changed after a period of 10 years on the print.
He said, "This will make it the biggest issue coins devoted to the process of trading in large quantities, as the dinar will remain in circulation because the monetary value of machining large reduce the use of multiple sheets and purchasing power will not be affected and will not be eligible for inflation."
On the other hand criticized the parliamentary Finance Committee member Abdul Hussein al-Yasiri, measures the central bank to issue a new currency, noting that the bank's economists believe the currency like a simple thing they can manipulate it at any time.
He said that the currency is subject to the law of supply and demand, the greater the money supply in the market, the less demand for them, and this leads to inflated currency in the local market, adding that the presentation of the new currency, along with the old currency will affect the state of the market, according to economic theory concerning the dynamics of prices.
He called Yasiri, the central bank to take measures and steps are better than the issuance of a new currency.
Otherwise describe a member of the parliamentary finance committee for the Kurdistan Alliance, Ahmed Hassan Faizullah, printing new banknotes as "a waste of time."
He said: "The currency currently in circulation do not require replacing appropriate" and called on the central bank to "put a positive plans for the stability of the Iraqi dinar against the U.S. dollar, instead of issuing a new currency to overwhelm the Iraqi market."
And saw an economist Mohammad Hadi said the decision to replace the Iraqi Central Bank Iraqi currency is a good step, but it "is an inflationary pressure in the period of political tension that is currently taking place in Iraq and with the season approaching parliamentary elections."
Hadi said that the circulation of the new currency with no withdrawal of the old currency, would be a significant monetary inflation in the domestic market. "
He noted that "the central bank issued previously currency monetary metal after the change, but it disappeared from circulation and the effect that some actors smuggled abroad to take advantage of mineral makeup where" pointing to release monetary metal is a qualitative improvement whatsoever in circulation, but the important thing is to space who will be the trading currency. So wholesome saw Elias Abbou adviser North Bank for Finance and Investment, said that the subject of the issuance of the new currency will be certain specifications include specifications and lack of safety in cases of fraud will be issued along with the current monetary currency that is pulling the old currency later.
He said, "This case is not open and an absolute inject new cash currency without withdrawing the old currency because this would lead to an increase in prices and create some kind of inflation."
The Central Bank of Iraq, announced the re-printing the banknotes of Iraq, noting that the new images will be printed and include more protection.
He said in a statement, "The currency will continue to be traded now, and the new currency will help the blind to see the value of these categories," explaining that he would be included in the currency of the new dates Hijri and Gregorian and the signing of the Governor of the Central Bank and the Agency Abdul Basit Turki Saeed, with the addition of some signs of security.
He pointed out that "the current banknotes will continue to be traded with the new will not be pulling rolling them currently or in the future."
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