sandyf

There is a lot of confusion over co-existence. Initially, dual pricing will come into effect where both currencies are accepted in retail outlets. This will only happen for so long, possibly about a year. thereafter the old currency can only be exchanged at designated banks, that is where the 10 years would come in.  Internationally it is a different ball game altogether. A country can only have one national currency and international banks will only exchange the national currency. The day a redenomination takes place the IQD will no longer be the national currency.  As I have said before as far as redenomination goes, Iraq faces an extremely complex problem with regards to the amount of currency outside the country, something that no other country that has redenominated has had to deal with.

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