Pimpy
We're dealing with two different things... We have what's known as the nominal value, which is the numbers on the bank notes and then we have an exchange rate value. That's two different things.
This is [from] the World Bank data bank - Real Effective Exchange Rate is the nominal effective exchange rate in measure of the value of a currency against a weighted average of several foreign currencies divided by a price denominator or index of costs... Iraq already reports a real effective exchange rate. They report it all the time...It's reported to the IMF regularly...
The IMF, WTO, World Bank and whoever don't have a say whether or not Iraq LOPS off their zeros. That is decided by the Central Bank of Iraq as well as the government of Iraq. You're confusing the 'lopping of the zeros', 'the deletion of the zeros', 'the reducing of the zeros', 'the removing of the zeros', as somehow a loss in value. It is a neutral event. It doesn't affect outside investment into the Iraqi dinar. I told you when you remove the zeros all you're doing is lowing the nominal value of the currency. Has nothing to do Iraq's exchange rate versus other wold currencies - noting whatsoever.
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