Episode notes
Al-Alaq: We are constantly reviewing the deletion of zeros from the dinar, and there are no restrictions on our balances in America
link to My FX Buddies Blog
Countries remove zeros from their currency to revalue their national currency and simplify financial transactions. This is done by removing a specific number of zeros from the nominal value of the currency, making it appear less inflationary and more stable.
Al-Alaq confirmed, in an extensive interview with Al Jazeera Net, which was reviewed by "Al-Eqtisad News", that the Central Bank responded to global economic challenges, such as rising energy and raw material prices, by amending some monetary policies in line with the international situation and to enhance confidence in the Iraqi dinar and prevent a sharp decline in its value.