Kap is full of Krap
Kuwait never redenominated. They simply issued a new series of currency.
Kuwait had a very small amount of dinar. That's why they had and still have such a high rate. Back then they only had about 400 million dinar in circulation. MILLION, not billion, and certainly not trillions like Iraq. When Saddam invaded all the banks shut down. The central bank of Kuwait did not issue one single dinar at that 5 or 10 cent rate. So after Saddam was kicked out Kuwait issued a new series of dinar. All old dinar had to traded in. They checked the serial number on ever dinar traded in and did not honor the dinar that Saddam had stolen from the central bank. So Kuwait started with about 400 million dinar at about $3.50 and after the new series was issued they had about 400 million and the same about $3.50 rate. That is not a RV or a redenomination. It's a simple re-issue.
Iraq on the other had had a $3 rate back in the early eighties when they had about 20 billion dinar. They have since issued 80 trillion dinar at rate of lees than .001.
Kuwait issued ZERO dinar at low rate.
Iraq has issued 80 TRILLION at a rate less than .001
There is absolutely no similarity between the two.
Dow Jones Newswire: A current 25,000 Iraqi dinar banknote will become IQD25, and a dollar will equal only 1.17 dinars.
