Walkingstick
This base currency they are now teaching the Iraqi citizens about in the hybrid monetary plan is considered the domestic currency which is the IQD.
In this case the lower notes that will be coming out. Base currency means the Iraqi dinar it is a first currency in a currency pairing...
The IQD will be the dominant currency in Iraq and on the Forex due to its pairing. That step is the float to reach the real effective exchange rate.