All of a sudden the Iraqi government and the Central Bank of Iraq is now openly discussing ‘deleting the zeros.’...How will that affect your Iraqi dinar investment? …The phrase sounds dramatic and many people believe the currency will suddenly become more valuable, but that is not what Iraq is saying. In simple terms, deleting the zeros is a technical change to how the currency looks, not a change in how much the currency is actually worth. When Iraq talked about ‘removing the zeros’ they mean a process called redenomination. This means large numbers in the currency are reduced to smaller amounts. For example, 1,000 old dinars would become 1 new dinar. Even though the number looks smaller, the value stays the same…The total value in your pocket does not change…There was no information in the news article about when Iraq plans to delete the zeros…We can only hope these are steps toward a currency adjustment. :Sandy Ingram
