The Central Bank closes the door to change the dollar exchange rate.. What about the project to delete zeros?

The Central Bank closes the door to change the dollar exchange rate.. What about the project to delete zeros?

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Today, Tuesday, the Central Bank of Iraq announced its intention to issue a new denomination of the Iraqi currency, worth 20 thousand, while stressing that there is no intention of the Central Bank to change the exchange rate of the dollar.

The Governor of the Central Bank, Mustafa Makheeb, said during his speech at the Al-Rafidain Forum for Dialogue, which is sponsored by Iraq 24 in the media, that “the central bank has no intention to reduce or change the exchange rate of the dollar,” stressing that “Iraq is still in the early stages of reaping the positive effects of the exchange rate change, and there are some Negative indicators are working to address them in the coming period.”

He added that "the process of deleting zeros from the currency needs to legislate a law and requires some modifications, and the atmosphere must be available to accept such modifications," noting that "the central bank presented earlier a project on the process of deleting zeros."

He pointed out that “the Central Bank is working to complete a new category of 20 thousand dinars based on a study and research compared with neighboring countries, and is working to complete the form of the paper and in the coming days it will be announced,” noting that “the Central Bank has reduced the interest rate on loans.” provided to finance projects, and that the initiatives largely targeted the housing sector, which occupies more than 30% in various sectors.”