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Printing new denominations of currency that exceeds 50,000

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Printing new denominations of currency that exceeds 50,000

4,073 Economy 10/18/2020 18:47   ht
Baghdad today – Baghdad


A member of the Economic and Investment Committee, Nada Shaker Jawdat, commented, Sunday (October 18, 2020), on the fact that there is a government tendency to print new currency issuances that exceed 59,000.

In an interview with (Baghdad Today), Jawdat said, "The Economic and Investment Committee does not possess any information about the existence of government intentions to print new currency denominations exceeding the 50,000, and no opinion has been received from the competent executive authorities in this regard."

And she added that "if this matter happens, it will destroy the Iraqi currency, because the Iraqi dinar will collapse in front of hard currencies," noting that

"this step will be greatly supported by parliament and the people."

Earlier, the Central Bank of Iraq issued today, Sunday (October 18, 2020) a statement regarding the reduction of the Iraqi dinar exchange rate against the US dollar, while confirming that this news represents the viewpoint of the one who stated it, not the bank.

The media office of the Central Bank stated in a statement received (Baghdad today), that “the Central Bank of Iraq confirms that the recent statements regarding (lowering the exchange rate of the Iraqi dinar against the dollar) represent the viewpoint of those who stated it, and do not represent the official position of the Central Bank.

This was accompanied by a number of rumors launched by speculators, which affected the price (temporarily)."

According to the statement, the bank announced that "the exchange rate is fixed and unchanged, and that its monetary policy is clear and transparent," noting that

"its foreign currency reserves are very good, according to all international indicators and in a way that enables it to overcome the current crisis the country is going through."

The statement continued, "This bank hopes that the media will exclusively use the sources of the central bank in this regard."

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