Mnt Goat

  Iraq…when ready, they will drop the three zeros and give the citizens so many days to turn them in the old three zero notes for exchange of the new lower currency denominations. This exchange will most likely be electronic. It will be a 1:1 exchange but not like many think…I DO NOT mean one dollar for one dinar. I mean, for instance, a 25k note for a new 25 note. This is the 1:1 the CBI has talked about many times. Yes, the dinar may revalue first in-country to just over a dollar, but this is still not what the CBI meant by 1:1 in the past…the VALUE of the dinar has always been there…only when they drop the three zeros it becomes more manageable and nominal. The VALUE is still the same.