When a redenomination occurs, it takes place both domestically and internationally. This means it also affects those outside the country. Once the transition is made, individuals must exchange their old Iraqi dinars for the new currency. There are no exceptions to this rule. Being outside of Iraq does not grant anyone special treatment.What if criminals are hoarding Iraqi dinars outside of Iraq? How can they be addressed? The approach is to treat the situation in-country the same as it is out-of-country. You will need to bring your old 3-zero notes to a designated location to exchange them for the new currency. Common sense dictates that what applies within the country also applies beyond its borders. The redenomination, which involves dropping the zeros, is solely at Iraq’s discretion. However, this does not imply that it is a definitive decision; they are certainly leaning towards that option.
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