We need more than a rate change to happen in Iraq in order for us to benefit from a rate change. It must be recognized internationally in most cases for banks to do the exchange. Some Chase locations are already making exceptions regardless of the currency being recognized internationally or not. You can exchange the dinar there…there’s gonna be a fee once the exchange happens. I believe it’s around 1%. They’ll charge you 1% fee to make the exchange…just for the sake of it I’m gonna use round numbers. Let’s say I have a thousand dinar and it’s now $3 for every one dinar. I would deposit my 1,000 dinar into my account and they would exchange it and in my account would reflect 3,000 US dollars…If I had one million dinars and it was 3 to 1.
I would deposit that one million dinars into my account and in there would reflect 3 million U.S. dollars. That’s how it works. And there would be a fee taken out…If you’re expecting to come skipping out with millions of dollars in a bag – that’s not going to happen. Once the money is put into your account you will have access to some of it right away. I think for some banks there is a process in which they take the currencies and they will send it off and there’s a slight hold on it…as far as you wanting the cash money itself, the paper money in exchange, you will have access to X amount of it upfront and then you have to order the rest. If you wanted a million dollars in cash you would have to tell your bank manager to order the money for you because a lot of banks don’t hold that much money.