Iraq planning to trim three zeros from currency - report

[Duke]

Iraq planning to trim three zeros from currency - report

Iraq: 4 hours, 28 minutes ago
Deputy governor of Iraq's central bank Mudher Kasim has revealed plans to redenominate its dinar currency by removing three zeros off the nominal value of bank notes to simplify financial transactions, Reuters has reported. The new currency is expected to be used in the market in three years and it would have no impact on inflation, he said. 'This will facilitate the payments system ... instead of carrying a lot of money, we will carry less. This is an important reform,' Kasim told the news service.

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