Good News Tuesday!
Good afternoon, Noble Institution members, this just in from Mr. Brando:

Economist for / Nina /: It is necessary to convert small denominations of currency into coins

Tuesday 04 October 2022 11:44 | Economic Number of readings: 353

Baghdad / NINA / – The economic expert, Saleh Al-Hamashi, stressed that it is necessary to convert the small denominations of currency into coins.

He told the National Iraqi News Agency (NINA) that one of the tasks of the Central Bank is monetary policy, liquidity, existing currencies, lack of liquidity and financial dealings with large and small groups, trying to find other middle categories to facilitate the sale process.

Al-Hamashi added: The problem is not with currencies, but rather with inflation and the monetary mass in the market. There is no economic and financial benefit from this decision, but there will be an additional currency.

And he called on the government to print larger coins and convert the small coins 250, 500 and 1000 into coins due to the large number of circulating them to preserve the cash mass in the market.

Al-Hamashi explained: It is not economically feasible to print a new currency, but rather it will be a redundant link in the monetary mass. /End 3