Iraq devalued their currency. They made their currency weaker. If they are going to issue new notes in the future with the 3-zeros cut off, those notes would have to have a different type of value. You can’t devalue the currency from 1310 to 1510, cut the three zeros off, issue new note without the three zeros because that paper would be…worthless. So the argument goes, are they going to redenominate, which means they’re going to cut the three zeros off…no exchange rate increase. Or is there going to be a revaluation / redenomination? Because it would make logical sense if they are going to issue new notes with the three zeros off, the new currency would have to have higher value. :Stephen
