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If the Iraqi Dinar has two zeros lopped off will an investment of 1000.00 USD in Iraqi Dinar become worth less. I believe that I read somewhere that the value stays the same against foreign currency?
Wiki User
∙ 13y ago
The Central Bank of Iraq has stated many times that they will not "lop" the currency but the rate. The rate is .00085 USD to 1 dinar. The CBI will "lop" 3 zeros off the rate to make it .85 USD to 1 dinar. So if you purchased 100,000 dinar for $100 USD back in 2004 as a example...you investment after 3 zero's off the rate will be $85,000 USD for 100,000 dinar. Not bad return for $100 USD investment in 2004.
Wiki User
∙ 13y ago
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