Iraqi Dinar Discussion Board

[Aerospace]

Exit options…
If the dinar revalues, to 1:1 lets say.
You will have to have an account at any bank to exchange. There is no way whatsoever that you will walk into a bank with a couple million dinars and walk out with a couple million dollars in your pocket. Banks simply don’t have that much cash sitting around. They also will not just cut you a check on the spot. I would guess with any sum of money that large they will require that the currency you are turning in be validated and they probably will not credit your account until they have exchanged the currency and recieved payment.
When your talking to your bank about exchanging… run that 1:1 scenario by them.
Now then… I’m sure it’s not a shock when I tell you I don’t think it’s going to revalue to 1:1.
I believe it will be a new currency and you will get 1 for 1000 when you exchange. If Iraq announces a new currency and a two year exchange period, my guess is that banks MIGHT help you out. If they only give a two or three month exchange window, I don’t think the banks will take the risk of getting stuck with the currency so you might be relying on the dinar dealers to get your exchange done. Problems there are… 1. They are going to charge you for it, and 2. If it’s a short exchange I doubt the dealers have the resources to purchase back all the dinar it took them 3 years to sell. They will be swamped.
The length of the exchange period will be key.
Why are they only allowing one month to exchange coins?
Dry run maybe?