Iraqi Dinar Discussion Board

[sportfisher]

Iraqi dinar soon to be rebased by central bank to improve value
By Executive staff on April 06, 2010

The Central Bank affirms its commitment to its strategic projects, particularly knocking three zeros from the Iraqi dinar,” said a statement by Iraq’s Central Bank. “Despite the technical and logistical preparations for the project we have yet to decide on suitable timing to implement the project.” The Central Bank’s senior advisor Mudher Qasim also told Dow Jones newswires that taking three zeros off of the dinar would improve its value. If the currency is rebased and the zeros knocked off, one US dollar will be equivalent to 1.17 dinars. In order to rebase the currency, the central bank will need to print new notes. This will be the second time in six years that Iraqis have had to trade in their currency, after the US civilian authority in Iraq printed new notes in July 2004 in order to replace the currency bearing the image of Saddam Hussein.

http://executive-magazine.com/getarticle.php?article=12934