Thanks Jonathan
Revaluation In 5 Easy Steps
Step 1
25,000 Iraqi Dinar notes are currently available.
They are worth about $20 USD.
Step 2
New 25 Dinar notes will be introduced in the future.
1000 of these new 25 Dinar notes will equate to 1 of the existing 25,000 dinar notes.
Step 3
A revaluation will then take place.
1 Dinar may go from 0.00086 USD to say $1.00 USD (or $2.00 USD or $3.00 USD)
Step 4
Now The low denomination notes will be worth the paper they are printed on.
So smaller notes of 1, 5 10 Dinar will also be introduced along with the coins (fills).
Step 5
The 000 notes will then be removed from circulation.
Within Iraq a Dinar will still be a Dinar, but now one of them will buy a loaf of bread, whereas it used to take 1000 Dinar.
Outside Iraq we will then be able to trade in our 25,000 Dinar note for $25,000 USD.
(or 50,000 USD if revalued at 2 USD per Dinar or 75,000 USD if revalued at 3 USD per Dinar)
Reminder of the Revaluation Phases
Phase 1 of the revaluation: Printing of the new currency (This will include digital money preparations).
Phase 2 of the revaluation: Coexistence of both low and new denominations.
Phase 3 of the revaluation: The removal of the higher denominations from circulation.
With kindest regards,
Jonathan.
Revaluation In 5 Easy Steps
Step 1
25,000 Iraqi Dinar notes are currently available.
They are worth about $20 USD.
Step 2
New 25 Dinar notes will be introduced in the future.
1000 of these new 25 Dinar notes will equate to 1 of the existing 25,000 dinar notes.
Step 3
A revaluation will then take place.
1 Dinar may go from 0.00086 USD to say $1.00 USD (or $2.00 USD or $3.00 USD)
Step 4
Now The low denomination notes will be worth the paper they are printed on.
So smaller notes of 1, 5 10 Dinar will also be introduced along with the coins (fills).
Step 5
The 000 notes will then be removed from circulation.
Within Iraq a Dinar will still be a Dinar, but now one of them will buy a loaf of bread, whereas it used to take 1000 Dinar.
Outside Iraq we will then be able to trade in our 25,000 Dinar note for $25,000 USD.
(or 50,000 USD if revalued at 2 USD per Dinar or 75,000 USD if revalued at 3 USD per Dinar)
Reminder of the Revaluation Phases
Phase 1 of the revaluation: Printing of the new currency (This will include digital money preparations).
Phase 2 of the revaluation: Coexistence of both low and new denominations.
Phase 3 of the revaluation: The removal of the higher denominations from circulation.
With kindest regards,
Jonathan.
