Finance committee: Exchange rate is more stable

, while considered the date of deleting zeros from the Iraqi currency as " something related “ to the central bank and the federal government.

“The central bank of Iraq (CBI) is ongoing in distribution of hard currency to bank branches in the provinces therefore the committee didn’t receive any complaint in this regard,” the member of the Committee , Amin Hadi told “Shafaq News”.

“The exchange rate of the dollar against the Iraqi dinar is more stable than before , which in turn will encourage investment and economic activity“.

The Iraqi dinar exchange rate against the dollar has returned to normal gradually after a series of measures taken by CBI on the background of an unprecedented rise of the dollar against the Iraqi dinar.

Regarding the draft of deleting of zeros, Amin explained that “the implementation of the project depends on determining the schedule, which is related to CBI and the government”.

“The project has positives and negatives, but the positives of the project are more than the negatives," he said.

The Economy and Investment Committee has demanded last July , CBI on need to delete the zeros from the currency , indicating that this procedure is now available after Iraq’s exit from Chapter VII .

It is noteworthy that CBI began Consideration of an amendment on the low currencies of 2010, while economists believe that changing former governor of CBI , Sinan al-Shabibi and his deputy, Muthehar Mohammed Saleh and a number of bank officials and bring them to justice on charges of mismanagement and corruption impacted negatively on the project to change the currency and delete zeros .