The newly appointed Prime Minister of Iraq is taking swift action. Consequently, news from Iraq is also emerging rapidly… The Iraqi Prime Minister has inquired about the specific laws regarding his ability to [remove the zeros from the dinar] without parliamentary approval… If the zeros are to be eliminated, does this imply that the currency will be reprinted? What typically occurs in a standard plan to delete the zeros? …The currency’s value will remain unchanged. A 25,000 IQD note will convert to 25 IQD, while a 10,000 IQD note will become 10 IQD… Most nations that undergo currency redenomination experience a transitional phase. During this time, both old and new notes circulate simultaneously. Banks facilitate the exchange of old notes for new ones. Businesses display prices in both currencies. Eventually, the old notes are phased out and destroyed. This is the approach taken by… Turkey, Romania, and other countries that have implemented similar reforms. I will keep you informed on this matter. [Stay tuned to dinaropinions.com as other experts share their insights on what ‘Drop the Zeros’ means for your dinar.]
These are Iraqi Dinar Guru Updates, News, Opinions, and Intel Dinar Opinion
