Currency value and an exchange rate are two totally different things and are determined differently. Changing the exchange rate does not make value. Value is made by the monetary policies that CBI and Iraqi government have put in place…Now, the inflationary zeros will be removed because the government has met the requirements of the CBI and made an economic environment that will support both the value of the dinar and keep the economy humming along. Value through policies must be restored first which will be represented with new notes being lower denominations… Meaning the three zero notes will be physically removed from circulation and the lower notes without the extra zeros will be issued. Then and only then the exchange rate reflects an increase in the relative price of the Iraqi dinar compared to the price of another currency.
