The new Prime minister of Iraq is moving fast. Therefore, so is the news coming out of Iraq…The Iraqi prime minister has asked for exact laws on if he can [delete the zeros from dinar] without parliament…If they’re going to remove the zeros, does this mean they’re going to reprint the currency? What would happen in a typical delete the zeros plan? …The value of the currency will not change. A 25,000 IQD will become 25 IQD. 10,000 IQD will become 10 IQD…Most countries that redenominate their currency go through a transition period. Old and new notes circulate together at the same time for a period of time. Banks exchange the old notes for the new ones. Business display prices in both currencies. Eventually old notes are withdrawn and destroyed. This is how…Turkey, Romania and others handled similar reforms. I’m going to keep you updated on this. :Sandy Ingram [Stay tuned to dinar guru as the other gurus chime in with their perspective on what Drop the Zeros mean for your dinar.]
