Parliamentary Finance Committee: Removing zeros from the Iraqi dinar is under discussion at the Central Bank.

Member of the Parliamentary Finance Committee, Ahmed Hama Rashid, revealed today, Saturday, that the issue of removing zeros from the Iraqi dinar is being discussed in the corridors of the Central Bank.

The video for this My FX Buddies blogpost is below here:

Rashid said in a press statement to “Al-Jarida” that the project is linked to the goal of raising the purchasing power of the dinar, noting that the idea was put forward since the time of the civil administrator Paul Bremer, and it also aimed to address what is known as the “monetary illusion,” since the circulation of millions of dinars gives the impression of owning large sums of money.

He added that removing zeros aims to simplify cash transactions and reduce the volume of numbers circulating in Iraqi currency.

We're getting closer...