[Iraq boots-on-the-ground report] Omar: There’s no formal announcement yet we can see from the central bank of Iraq or from the government about moving the dinar to a 1 to 1 exchange rate with the American dollar. We are being told more things every day about the reform. However the redenomiation plan if it is implemented could symbolize a reset of our currency making one new dinar equal to our 1,000 old dinar note. This is not the same as a revaluation but it would simplify transactions and improve confidence. FRANK: Monetary reform education inside of Iraq is very loud teaching the Iraqi citizens…The lifting of the zeros from your exchange rate will result in a 1,000 note becoming a 1 note. A 25,000 note becoming a 25 note inside your country.
