AJ
Iraq must introduce a replacement for its paper currency before revaluing the dinar.
A revaluation with only the current paper currency would disrupt the economy, as the 1,000 IQD note, comparable to a $1 bill, would jump to $1,000 in value at a 1:1 exchange rate with the USD making change for everyday transactions would be impossible, rendering the economy dysfunctional.
Remember the CBI announced
Al-Alaq revealed in late February that the CBI is planning to create a digital currency to replace paper notes in transactions with central banks.
The Iraqi official added that fundamental changes will take place in the banking and financial systems, including the limited use of paper notes, as they will be replaced by digital currencies in transactions between central banks.
Al-Alaq revealed in late February that the CBI is planning to create a digital currency to replace paper notes in transactions with central banks.
The Iraqi official added that fundamental changes will take place in the banking and financial systems, including the limited use of paper notes, as they will be replaced by digital currencies in transactions between central banks.