[Iraq boots-on-the-ground report] OMAR: The confirmed suggestion on TV eliminates the three zeros at a ratio of 1,000 to 1. One new IQD note for every 1,000 old ones. Everything, including bank accounts, pricing, wages, and contracts, converts proportionately. The same expression is used for the exchange rate. 1,310 IQD is worth $1.31 in relation to the US currency.They claim that buying power is maintained. They stated that this is an accounting simplification rather than a wealth event in and of itself. FRANK: However, it will be for you [foreign investors]. However, it offers Iraqi citizens an equal opportunity.This is the education that Iraqi residents receive.
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