Harlequinc3
Question about the dinar 3-zeros video from 7-17-2024 below: "As I watch the video, it seems their illustration hints on deleting from the currency in such a way that appears they would not recognize the existing zeros and only accept larger denominations with the thought in mind that the additional 3 zeros are no longer recognized."
The CBI will remove 3 zeros off .00076 (1310 IQD: $1USD.) This makes the exchange rate $.76. But almost at the exact same time, they will reinstate their currency internationally to $3.22 (and possibly add inflation for 20 years to it — 20%) up to $3.86. Reinstating it means we can exchange the dinar internationally just like any other currency.
Think of removing three zeros as literally ‘removing the old currency from circulation.’ That’s all it means.How they do it is entice you and me and Iraqi citizens with an attractive amount. After a certain amount of all that old currency is removed, CBI will up the exchange rate in increments until it hits the rate they want. This is called a dirty float. Most likely after awhile, the CBI will change this to a pure float which is like what you see on regular ForEx, like the dollar does, the Euro does, the pound does, etc. But that won’t matter to you and me because we will have already gotten rid of our dinars and exchanged them for dollars (or whatever currency your own country uses.)
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