Iraq to Redenominate its Currency

In economics, nominal values are the face value of currency over long periods of time (years), whereas real values have been corrected for inflation. The Face value is the value of a coin, stamp or paper money, as printed on the coin, stamp or bill itself by the minting authority. While the face value usually refers to the true value of the coin, stamp or bill in question

February 14, 2010

Iraq to redenominate its currency

Iraq: 1 minute ago

Mudher Kasim, a senior advisor at Iraq's central bank, has said the country expects to redenominate its dinar currency by omitting three zeros off the nominal value of bank notes to facilitate currency transactions has reported.

'The goal is to improve the payment and receiving system in the country and consequently to reform cash management,' he said. New notes are expected to be rolled out by the end of the year or the beginning of 2011, he said.

http://www.ameinfo.com/223921.html

*** Minister of Finance: raise zeros from the Iraqi currency against the dollar will be supported by