Experts debate whether re-denominating the currency (dropping the zeros) would help the economy or have any effect on the underlying valuation of the currency. Our recent interview with government spokesman Dr Ali al-Dabbagh clarified the government's position on this, while Mark DeWeaver outlined some basic truths regarding redenominations.
The process of redenominating a currency is fairly straightforward, but if this actually takes place anyone holding physical Iraqi dinars outside of Iraq would need to consider the costs and practicalities of trading each 1,000 'current' dinars for one 'new' dinar.
As always, we will inform readers via the Iraq Business News website as soon as we have anything relevant to report.
Your Iraq Business News Team.
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