CBI to issue new denomination of Iraqi currency
A man counting a pack of Iraqi dinars. Photo: AFP
Baghdad (IraqiNews.com) – The Central Bank of Iraq (CBI) announced on Tuesday that it intends to introduce a new denomination of the Iraqi currency, according to the Iraqi News Agency (INA).
The governor of the CBI, Mustafa Ghaleb, during his speech in the Al-Rafidain Forum for Dialogue, said that the CBI is working on the issuance of a new denomination of 20 thousand dinars based on a study and research conducted in comparison with neighboring countries.
Ghaleb elaborated that the CBI is working on completing the design of the new denomination and it will be announced in the coming days.
Additionally, Ghaleb stressed that the CBI has no intention to change the exchange rate of the U.S. dollar.
Ghaleb explained that Iraq is still in the early stages of reaping the positive effects of the change in exchange rate, and indicated that there are some negative indicators Iraq is working to address during the coming period.
Ghaleb confirmed that the CBI has distinguished relations with the World Bank and the International Monetary Fund (IMF), and Iraq’s openness with them is very important despite the challenges facing the country.
Ghaleb indicated that the CBI has a plan and strategy for five years, and noted that the CBI has taken several steps to develop the banking and financial sectors.