When will the Iraqi revalue?

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.

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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