Question: “When the rate change does occur…and they give their citizens in Iraq a time frame to exchange the current notes for new lower denominations…does that apply to us? Are we going to have to contact Chase or Bank of America to find out exactly what that window is? Or do you think the Central Bank of Iraq will put out a rule book…for what it’s going to be for foreign holders of the currency?” Terrance: Iraq does not have to honor foreign currency holders…They don’t even track the amount of Iraq dinar outside of the country. It’s not on their radar because it’s not tradable and it doesn’t stimulate their economy. So they’re under no obligation…but they will [honor it] because they don’t want to harm the relationship [with international banks/investors]… :Terrance
