Redenomination means that a 1000 dinar note will be replaced by a 1 dinar note…’
Oh, shoot! He just told us it’s going to lop?!?’ [No,]
Let me finish. All of this is based on a country’s inflation. Iraq has very low, extremely low inflation…around 3%. A country with inflation that low is not going to lop. It’s basic economics. I have articles that state Iraq will have 2 currencies coexist together at the same value.
What does value mean?
It means what the dinar is worth against a foreign currency such as the US dollar…So two different set of notes will coexist..Let’s us a 25K note and a newer smaller note of 25…will share the same value against the dinar...If the rate was $3…just an example…a 25,000 note would be worth $75,000. A 25 note would be worth $75. That’s why I said redenomiation and not a lop. : Jeff
