Here is yet another article confirming what we are looking for.
Baghdad morning 's New: Central deletion of zeros early 2017
The governor of the Iraqi Central Bank on the Keywords that project to delete the zeros will be implemented in early 2017, indicating that the bank began to develop the first steps of the project.
Keywords and said in a statement, said that « the goal of deleting three zeros from the Iraqi currency It is to support the Iraqi dinar and make it a competitor of foreign currency »,
pointing out that« this strategic project will serve the country 's economy if it will be inclusion of the Iraqi dinar in the global basket of currencies in the vital world exchanges ».
he added that the bank« working on mechanisms for the implementation of this project is expected to start with the beginning of the year 2017 »,
indicating that« the central bank began the first steps of the project through the selection of designs, companies and the country that will be the currency printing ».
He pointed out that« the new currency entry does not mean the destruction of ancient coins, but will continue in circulation for about ten years »,
pointing out that« this period will enable the central bank to withdraw the old currency in accordance with the dynamics and mechanics in order to preserve liquidity in the market ».
in the same regard, the Central Bank of Iraq, decided on Tuesday to open two branches has to manage its activities and functions in the Kurdistan region.
the bank said in a press statement, he said that « the Council of the Iraqi Central Bank board of Directors decided in its session numbered 1546 and held on 23.10.2016 has opened two branches to manage its activities and functions in the Kurdistan region.»
Foosue, said: I have what's probably a stupid question, but what the heck... if the project begins in 2017, does the RV happen at the time it begins or after?
Stevel: My understanding is that they will change the value of the IQD prior to introducing the new lower bills. Think about it, if you kept the rate the same why in the world would someone turn in one 25,000 note and now have to carry 1000 notes and end up with the same value.
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Thursday, November 10, 2016
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