Mnt Goat
Question: We all have like 25000 dinar notes after the 2 extra zeros are gone and we can go to FOREX will we have any problems cashing them in at the new FOREX rate after the month is over?
Mnt Goat: So, there is no time period set for exchanging our dinars outside of Iraq. However, having said this, we must refer back to Dr Shabibi’s media news interview years ago when he said in about 10 years after the reinstatement the CBI would null and void these 3 zero (not 2 zero) notes that we hold...
"...it was decided to transfer all financial transactions electronically through the (POS) point of sale system in traffic departments in Baghdad and all governorates instead of cash dealing.” ...it is a borderline “WOW!” article for us today as Dinar investors. ...electronic banking and POS has been on the radar and will continue to be pivotal in the monetary reform process.... It is a very good step, a sign in the right direction and may help take the demand off the dollars thus reducing the rate in the black market for the dollar.
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