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SandyF - Deleting 3 Zeros 2/12/19
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SandyF - Deleting 3 Zeros 2/12/19
by Ssmith Wed Feb 13, 2019 10:21 am
CBI has stated many times “restore and or increase purchasing power of the dinar.” Many seem to think that statement means “restore and or increase purchasing power of the IQD”, but it is not the case. Zambia increased the purchasing power of the Kwacha, by deleting 3 zeros.
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Re: SandyF - Deleting 3 Zeros 2/12/19
by Sam I Am Wed Feb 13, 2019 1:30 pm
The kwacha was redenominated in 2013. They increased the value only in the sense that they removed the old kwacha from circulation and replaced it with a new kwacha worth 1000 times more while reducing the money supply proportionately to achieve no net change in the purchasing power. This is the same thing Iraq is proposing. I think Sandy knows this but he/she didn't elaborate in that post. https://www.questia.com/magazine/1G1-283457508/zambia-redenominates-the-kwacha-zambia-has-finally
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