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CNN Live At Daybreak
New Currency Being Introduced in Iraq
Aired October 15, 2003 - 06:08 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: On the subject of Iraq, it's getting new money today, minus the face of Saddam Hussein.
Let's go live to Baghdad now and Harris Whitbeck.
Good morning -- Harris.
HARRIS WHITBECK, CNN CORRESPONDENT: Good morning, Carol.
Today, October 15, is the start of a three-month period during which Iraqis can exchange their old dinars, their old currency, for the new Iraqi dinar. This currency was introduced by the Coalition Provisional Authority. The idea is to make it easier for consumers to carry out cash transactions. The new currency is coming out in several denominations.
It is also considered to be, according to the coalition, counterfeit-proof. One of the big problems that Iraqi consumers have been facing in the past has been the fact that many of the old bills were easily -- it was easy for counterfeiters to put false bills into the market.
Again, there will be three months for the Iraqis to change these new bills. Another feature is that the new bills do not have the picture of Saddam Hussein on them, a very symbolic gesture there, indicating that things certainly have changed here in Iraq.
Now, there is some concern on the streets of Baghdad today concerning security. On the one hand, there is concern that with all of these new bills coming out into the street there might be more thieves on the streets trying to get ahold of that.
But there also have been some -- quote -- "credible threats," according to a coalition military spokesman, against hotels housing Westerners -- journalists or Westerners who are here as part of the American occupation. So, U.S. military helicopters -- Black Hawks and Kiowa-type surveillance helicopters -- have been over-flying many areas, particularly the Palestine Hotel, which is where we are now. Those helicopters have been hovering over this hotel since about 7:00 this morning for about six hours now.
So, there is a little bit of tension on the streets of Baghdad this morning -- Carol.
COSTELLO: All right, Harris Whitbeck bringing us up-to-date live from Baghdad this morning.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
Aired October 15, 2003 - 06:08 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: On the subject of Iraq, it's getting new money today, minus the face of Saddam Hussein.
Let's go live to Baghdad now and Harris Whitbeck.
Good morning -- Harris.
HARRIS WHITBECK, CNN CORRESPONDENT: Good morning, Carol.
Today, October 15, is the start of a three-month period during which Iraqis can exchange their old dinars, their old currency, for the new Iraqi dinar. This currency was introduced by the Coalition Provisional Authority. The idea is to make it easier for consumers to carry out cash transactions. The new currency is coming out in several denominations.
It is also considered to be, according to the coalition, counterfeit-proof. One of the big problems that Iraqi consumers have been facing in the past has been the fact that many of the old bills were easily -- it was easy for counterfeiters to put false bills into the market.
Again, there will be three months for the Iraqis to change these new bills. Another feature is that the new bills do not have the picture of Saddam Hussein on them, a very symbolic gesture there, indicating that things certainly have changed here in Iraq.
Now, there is some concern on the streets of Baghdad today concerning security. On the one hand, there is concern that with all of these new bills coming out into the street there might be more thieves on the streets trying to get ahold of that.
But there also have been some -- quote -- "credible threats," according to a coalition military spokesman, against hotels housing Westerners -- journalists or Westerners who are here as part of the American occupation. So, U.S. military helicopters -- Black Hawks and Kiowa-type surveillance helicopters -- have been over-flying many areas, particularly the Palestine Hotel, which is where we are now. Those helicopters have been hovering over this hotel since about 7:00 this morning for about six hours now.
So, there is a little bit of tension on the streets of Baghdad this morning -- Carol.
COSTELLO: All right, Harris Whitbeck bringing us up-to-date live from Baghdad this morning.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
