Central Bank of Iraq Denies Printing New Currency with Zeros Removed
The Central Bank of Iraq (CBI) has denied reports circulated by some media outlets and social media platforms claiming that a new Iraqi currency with zeros removed has been printed in preparation for its introduction into circulation.
The CBI stressed that the circulating reports are not based on any official source, explaining that any future project involving the restructuring of currency denominations or the removal of zeros from the Iraqi dinar would have to undergo multiple legal, regulatory, and technical stages.
The Bank noted that implementing any potential currency reform would require an official announcement and an appropriate transitional period, allowing citizens, banks, and institutions to exchange currency in an orderly and secure manner while preserving the financial rights and obligations of all parties.
The Central Bank urged citizens and media outlets to rely exclusively on its official statements when dealing with information related to monetary policy and currency issuance, warning that the circulation of unverified reports could create confusion in the markets or harm citizens’ financial interests.
The clarification comes amid growing discussions over the size of Iraq’s money supply and the possibility of reforming the structure of the country’s currency denominations.