In Footforward

This [LOP] absolutely will not happen in my opinion. Doing a LOP doesn’t help Iraq at all. Not one bit. They need to add value to their currency. They already have lower denominations printed and ready to go.  You also don’t change your exchange rate be doing a LOP or redenomimation. You actually have to add value to the currency. A LOP doesn’t do this. At all. It just makes your notes a smaller denomination. This would not make it equal in value to the USD.