Will the Iraqi dinar revalue before coming out of chapter 7?

Answer 1

First, it must be clarified what the difference is between redenomination and revaluation. Redenomination simply means that X Old Currency becomes Y New Currency. For example, Turkey revalued the Turkish Lira some time ago where 1,000,000 Old Turkish Lira became 1 New Turkish Lira. This just meant that if a loaf of bread previously cost 1.3 million Old Turkish Lira, it now costs 1.30 New Turkish Lira. You have no more money than you did before. Revaluation is when a country gains a much stronger economy which buoys up the value of the currency. For example, imagine that a load of bread costs $3.00, then the currency is revalued, now the bread will cost $2.00, with the same bills that you had from before. This makes everything cheaper and therefore, your money is worth more.

As concerns redenomination, there is no official date posted by the Iraqi Government. The government hints that it will get to it eventually, but consistently delays this. The Iraqi Government has NOT ever claimed that revaluation is even a possibility. Most economic analysts hold that the claim that Iraqi Dinars will be revalued is fraudulent and is an attempt to lure gullible people away from their money.

Read more about the scam at this website.

If you mean when it will revalue at a higher rate, then probably never. "The bottom line is that Iraq does not want an appreciating currency because it would not do the country any good. Iraq wants economic growth, not currency growth." -John Jagerson - Investor Place

Answer 2

According to Forbes magazine, the Iraqi dinar won't revalue because the whole thing is a scam. Investors are lured in with false hopes for something that is never going to happen. Several law enforcement agencies have issued warnings about the Iraqi dinar scam.

Answer 3

What is happening in Iraq at the moment is for the benefit of Iraq and its economy in the short & long run as well. Maliki established a racist entity in Iraq that the people there could never accept forever instead of focusing on establishing a democratic state with increasingly flourishing economy and equity amongst Iraqi people whatever their religious or political views are. The Iraqi People rebelled against this injustice and total anarchy. For sure, Iraq will be a better place to live in after Maliki is ruled out. So what is happening in Iraq now will have its very positive impact on Iraq as a new-born democracy and a flourishing economic entity very soon.

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Answer 4

Yes!