sandyf

  In sandyf

[You are the first person that I have seen move the decimal points on the value of the dinar (1190 to 1.190) as opposed to the zeroes on the currency itself (25,000 to 25)] It is effectively the same thing, depends if you are talking domestic or international. Within the country concerned dual pricing would come into effect. In the case of Iraq for example, a loaf of bread would be either 1000 dinar note of IQD or a 1 dinar note of the new currency. Internationally the IQD would no longer have any recognized value and the value of the new currency would start at 1000th of the IQD rate on the day the redenomination was implemented. Within Iraq, the IQD would retain an equivalence of 1000:1 for a specified transition period and thereafter only exchangeable at specific banks.