Posted on 27 October 2012. Tags: dinar, IQD, iraqi dinar, re-denomination, re-valuation, Redenomination, revaluation
By John Lee.
Iraqi MP and member of the Parliamentary Economic and Investment Committee, Nahida al-Dayni, has ruled out deleting the zeros from the Iraqi currency soon.
Speaking to All Iraqi News Agency (AIN), she said:
“The process of deleting the zeros from the Iraqi currency will not be done soon due to the lack of security and economic stability in Iraq, in addition to the lack of the required observatory role and the reduction of the IQD to the USD.
“The increase and decrease of the prices are related to the regional situation … The possibility of fixing the price of the USD to keep the same ratio of the IQD in the local markets.“
Previously, the Council of Ministers decided to postpone the process of deleting the zeros from the Iraqi currency until further notice.