A source in the Central Bank: It is too early to trade 20,000 dinars, and no old denomination will be withdrawn

Walter

  • Time: 11/21/2022 07:37:10
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A source in the Central Bank: It is too early to trade 20,000 dinars, and no old denomination will be withdrawn

  {Economic: Al Furat News} An official source in the Central Bank of Iraq revealed that “it is still early time to launch a currency of 20,000 dinars for circulation.”

The source said in a press statement, “The bank is still in the process of preparing to study, design, and the extent of the impact of that currency on Iraqi society,” noting that “it is too early to print it and release it for circulation during the next near stage.”
And he indicated that “the issuance of that paper will improve the national chain of banknotes, in addition to adding an intermediate category that will facilitate cash circulation among citizens.”
The source confirmed that “no old cash denominations will be withdrawn, and this denomination will be added to the rest of the denominations with the aim of improving and enriching cash circulation.”
He pointed out that the bank is in the process of understanding and agreeing with discreet printing houses to choose the colors and security characteristics of the papers and other technical and procedural details.
And the Governor of the Central Bank, Mustafa Makhaif, revealed during his participation in the “Al-Rafidian Forum for Dialogue” on September 27, the bank’s intention to issue a new denomination of the Iraqi currency at a value of 20 thousand dinars (approximately $ 13) 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.”
It is noteworthy that Iraq has – so far – 7 categories of local currency issued by the Central Bank of Iraq, which are {250 dinars, 500 dinars, 1000 dinars, 5000 dinars, 10000 dinars, 25000 dinars, and 50000 dinars}.

https://alforatnews.iq/news/%D9%85%D8%B5%D8%AF%D8%B1-%D9%81%D9%8A-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D9%88%D9%82%D8%AA-%D9%85%D8%A8%D9%83%D8%B1-%D9%84%D8%AA%D8%AF%D8%A7%D9%88%D9%84-20-%D8%A3%D9%84%D9%81-%D8%AF%D9%8A%D9%86%D8%A7%D8%B1-%D9%88%D9%84%D9%86-%D9%8A%D8%AA%D9%85-%D8%B3%D8%AD%D8%A8-%D8%A3%D9%8A-%D9%81%D8%A6%D8%A9-%D9%82%D8%AF%D9%8A%D9%85%D8%A9

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