Re: Sandyf says - The day a redenomination takes place the IQD will no longer be the national currency.

by **Ponee** Tue Sep 24, 2019 5:44 pm

Guru sandyf

...There is a lot of confusion over co-existence. Initially dual pricing will come into effect where both currencies are accepted in retail outlets. This will only happen for so long, possibly about a year. thereafter the old currency can only be exchanged at designated banks, that is where the 10 years would come in.

Internationally it is a different ball game all together. A country can only have one national currency and international banks will only exchange the national currency. The day a redenomination takes place the IQD will no longer be the national currency.  As I have said before as far as redenomination goes, Iraq faces an extremely complex problem with regards to the amount of currency outside the country, something that no other country that has redenominated has had to deal with.

09.24.2019

~~~~~~~~~~~~~

   "Five Trillion Dinars in Circulation Now, Tlar Saleh"   People really need to understand the difference between currency in circulation and currency circulated.

The CBI accounts show an amount in respect of their liability for currency in circulation which includes all currency such as bank deposits and out of the country. The article is referring to circulated currency, do people really think that currency in bank accounts and out of Iraq gets worn out and damaged and in need of replacement.

As for the auctions, just part of the circulation mechanism. One of the methods used to convert the USD income revenue into dinar to fund the budget. The 2019 budget was around 130 Trillion dinar, where does the money come from if not from converting USD to dinar.

09.22.2019