Article quote: “the Governor of the Central Bank and the agency on the Keywords, said a former time, that ” the project to delete the zeros will be implemented in early 2017, noting that the bank” began to develop the first project steps.”
To begin to remove the zeros beyond shrinking the supply that has already been taking place over the past few years, the dinar will need to be usable to the people…
That can happen by adding value and as a result, adding smaller denoms eventually decreasing the need for the dollar.
So if we are to expect a move to a market economy with a market-driven floating rate, that will need to be in place before they activate actually removing the 3 zero notes…
They are usable now due to the poor rate but in order to remove them, there must be incentive via a higher purchasing power, IE more value…
So,this is a process, it will take time…so if the three zero notes being removed early next year, this process to get to that stage will need to start earlier…
The process of having a rate that gives enough purchasing power to exceed the usefulness of the three zero notes because they will be too large.
Imagine if the only USD notes we had were 100, 500, 1000, 5,000 and 10,000 same thing.
1. Move to Market Economy with a market-driven currency
2. Supplement note denominations to support the growing value, as well as whatever the rate adjusts to rapidly to start with.
3. As large three zero notes become too large, begin removing from circulation
4. As rate continues to grow, continue to release the entire book of note denoms
5. De-dollarize
