Iraqi Dinar Discussion Board

[Aerospace]

Brigadier General Hugh Tant, who was in charge of the exchange.

(http://www.usip.org/library/oh/sops/iraq/sec/tant.pdf).

TANT: You had the Central Bank which answered, of course, to Saddam. And whenever he directed, they had to print more money, which was a negative inflationary monetary policy. That was one of the reasons why the currency had to be replaced.
But, in the great majority of the country, they had the Saddam dinar with Saddam's face on it. There were basically only two denominations of that: there was a 10,000-dinar note, which was worth about $5, and there was a 250-dinar note, which was worth about 12.5 cents, 12 cents. The reason its value had dropped so low was because of Saddam’s inflationary monetary policy. In comparison, back in the '80s, before the Saddam dinar came about, the rate of exchange was about $3 to one dinar. But because of Saddam there was now a total upside-down situation where one dollar was worth about 2,300 dinar.

This great rate everyone quotes... it never even applied to the Saddam Dinars. It was prior to the Saddam Dinars ever existing that the Swiss dinars were worth $3. The Trillions of Saddam dinars were just dumped right on top of the swiss dinars.