The Iraqi dinar without zeros: The Central Bank of Iraq launches a historic reform.

[RJG]

Articles

The Iraqi dinar without zeros: The Central Bank of Iraq launches a historic reform.

• Today 14:45

 

Written by Dr. Subhi Jabara…

Research and writing by: Dr. Subhi Jabara

The Central Bank of Iraq has officially confirmed that it is moving forward with its long-awaited “zero-zero” project, a massive financial reform that will fundamentally reshape the country’s economy and its standing on the global stage. In a series of statements, the Central Bank Governor emphasized that the project is not mere speculation but a concrete initiative that has generated considerable enthusiasm and interest in international financial circles [1]. This ambitious project aims to rename the Iraqi dinar by removing three zeros from its nominal value to better reflect the country’s growing economic strength. This move, which has been the subject of rumors for years, is currently under active development, with comprehensive studies and simulations having been completed. According to the Governor, the process will be gradual and meticulously planned to ensure financial stability while unlocking the currency’s true potential. 

For years, the Iraqi dinar has suffered from a decline in its nominal value as a result of decades of conflict and economic instability. The current exchange rate, hovering around an unofficial rate of 1,415 dinars to the US dollar, forces citizens to carry large amounts of cash for their daily transactions and complicates international trade and investment. The “zero-zero” project was designed to address this problem by simplifying the currency and aligning it with the country’s strong economic fundamentals, including robust oil revenues, expanding gold reserves, and deepening trade partnerships with global powers such as China, the United States, and the European Union [1]. While the Central Bank has been careful not to commit to a specific timeline, the confirmation that the project has begun marks a pivotal moment for Iraq. This represents a transition from post-war recovery to a new era of economic independence.

Signs of Reform: How Will “Removing Zeros” Work? The phrase “removing zeros” may sound alarming, but it is a standard monetary policy tool known as currency revaluation. It is not a confiscation of wealth, but rather a recalibration of the currency’s nominal value. In essence, 1,000 old Iraqi dinars will become 1 new dinar. Crucially, all prices, wages, and savings will be adjusted proportionally, ensuring that individuals’ purchasing power remains stable at the moment of the shift [1]. The real shift occurs in the subsequent adjustment of the exchange rate. The Central Bank has developed several scenarios, with internal studies predicting that the floating dinar could stabilize automatically at a value in the distant future between 3.22 and 4.25 dinars to the dollar. The governor clarified that these figures are not a declared rate but rather an indicator of the currency’s potential if it is allowed to float freely based on market demand and Iraq’s economic fundamentals. Two main paths are being considered for the next phase.

Economists close to the central bank indicate that both options remain on the table. The choice will depend on the government’s strategic priorities, whether it favors a gradual, market-driven adjustment or a swift and decisive reset. Either path would trigger one of the most significant currency transformations in the modern Middle East. The economic driver: Why is now the right time for a stronger dinar? The timing of this reform is not coincidental. The Iraqi economy is at an evolutionary turning point. The country’s fiscal position has steadily improved, driven by several key factors: Strong oil revenues: As a leading producer in OPEC, Iraq’s steady oil revenues provide a stable foundation for its economy and strong support for its currency. Growing gold reserves: The central bank is actively expanding its gold reserves, a traditional safe asset that enhances monetary stability and international credibility. Deepening trade partnerships: Iraq has developed strong trade relations with major global economies, including China, the United States, and the European Union, diversifying its economic interactions and reducing its dependence on any single partner. Despite this strength, the nominal value of the dinar has lagged, widening the gap between the official exchange rate and its true value. Each time Iraq’s GDP grows or its foreign reserves increase, this discrepancy becomes more pronounced. The “zero-zero” project is the mechanism to close this gap, allowing the currency to finally reflect the country’s true wealth and economic progress [1]. This reform is expected to have profound global implications. Revaluing the Iraqi dinar would: • Boost regional investment: A stable and strong currency would make Iraq a more attractive destination for foreign investment, thereby fostering economic growth throughout the region.

• Reduces dependence on the dollar: By re-pegging its currency to a diversified basket of currencies or commodities, Iraq can reduce its reliance on the US dollar for oil settlements, a move with significant geopolitical implications. • Inspires monetary reform: It could inspire neighboring economies to reassess their monetary structures, potentially triggering a wave of fiscal modernization across the Middle East. For Iraq itself, this is more than just an economic adjustment; it is a step toward a historic fiscal renaissance, signaling Iraq’s transition from post-war recovery to a future of economic independence and self-determination. A new chapter for Iraq: The way forward. The central bank governor has emphasized that this reform is not a rash or hasty move; every step is carefully measured, documented, and designed to maintain stability and public confidence. While the precise implementation timeline remains confidential, the confirmation that the project has commenced and the preliminary studies are complete indicates that implementation is closer than ever. When the reform takes place, whether through a gradual float or a sudden restructuring, it will permanently alter Iraq’s fiscal identity. The phrase “removing zeros,” as simple as it sounds, represents one of the most ambitious and complex financial engineering projects in the country’s modern history. The central bank is not just changing numbers; it is redefining how Iraq interacts with the global economy. The world is watching closely. The potential shift in the dinar’s value, with projections ranging between 3.22 and 4.25 to the dollar, has captured the attention of investors, economists, and governments worldwide. This is not just an economic story; it is history in motion. As Iraq stands on the precipice of this financial transformation, the message is clear: the nation is ready to transcend its past and write a new chapter of prosperity and strength.

https://almaalomah-me.translate.goog/articles/115052/الدينار-العراقي-بلا-اصفار:-البنك-المركزي-العراقي-يطلق-اصلاحا?_x_tr_sl=ar&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc

Edited November 10 by RJG

[RJG]

👀👀👀💥💥

 

The re-evaluation is a two step process. 

Edited November 10 by RJG

[Half Crazy Runner]

3 minutes ago, RJG said:

at a value in the distant future between 3.22 and 4.25 dinars to the dollar.

🤩 I got to this part and just skimmed the rest… 💰 

[Half Crazy Runner]

4 minutes ago, RJG said:

👀👀👀💥💥

Holy guacamole!! This is NEWS! Many, many thanks @RJG!

[Laid Back]

“How Will “Removing Zeros” Work? The phrase “removing zeros” may sound alarming, but it is a standard monetary policy tool known as currency revaluation.”

 

BOOM💥

 

Go CBI

Go delete of 000

Go $0.76

Go Purchasing Power

 

[southbeach]

3 minutes ago, Laid Back said:

“How Will “Removing Zeros” Work? The phrase “removing zeros” may sound alarming, but it is a standard monetary policy tool known as currency revaluation.”

 

BOOM💥

 

Go CBI

Go delete of 000

Go $0.76

Go Purchasing Power

 

Yeah, same with Indonesia.  No fear here!

[southbeach]

13 minutes ago, Half Crazy Runner said:

🤩 I got to this part and just skimmed the rest… 💰 

Praise Jesus right here folks!  Bring it.

[RJG]

I'm thinking this deletion of zeros may happen around the start of their new fiscal year, 1/1/2026.  That is my hope anyway.

[edbeach]

Well the cat is out of the bag. All kinds of rummers now will be going on now.The whole world now will be looking to buy the currency.They better start  this quickly.

[Shedagal]

7 minutes ago, edbeach said:

They better start  this quickly.

Yeah, I hope so.  Still holding out for this year.   Will get out ASAP!!

[Shedagal]

BTW, it would behoove you all to go read what @coorslite21 posted about having your money in banks.  Could save you some heartache.

[southbeach]

4 minutes ago, Shedagal said:

BTW, it would behoove you all to go read what @coorslite21 posted about having your money in banks.  Could save you some heartache.

Where would I find it?

[cranman]

Not really sure this is what we want. Sounds like a lop with an increase in value.

 They said "It is not a confiscation of wealth, but rather a recalibration of the currency’s nominal value. In essence, 1,000 old Iraqi dinars will become 1 new dinar."  with "The potential shift in the dinar’s value, with projections ranging between 3.22 and 4.25 to the dollar, has captured the attention of investors, economists, and governments worldwide.".

 

Sounds we can make 3 to 4 times our money eventually.

 

The only way we win if is we don't have to exchange our currency  from 3 zeroe notes to no zeroe notes outside of Iraq.  

 

Definition - Recalibrating a currency's nominal value is called redenomination and involves changing its face value, such as removing zeros, without altering its purchasing power. This is different from revaluation, which adjusts a currency's value relative to other currencies. Redenomination is often done to simplify accounting after high inflation, but the change is symbolic and does not affect the currency's international exchange rate, notes Wikipedia and Reuters. 

 

This is my opinion only

 

 

[Shedagal]

9 minutes ago, cranman said:

Not really sure this is what we want. Sounds like a lop with an increase in value.

 They said "It is not a confiscation of wealth, but rather a recalibration of the currency’s nominal value. In essence, 1,000 old Iraqi dinars will become 1 new dinar."  with "The potential shift in the dinar’s value, with projections ranging between 3.22 and 4.25 to the dollar, has captured the attention of investors, economists, and governments worldwide.".

 

Sounds we can make 3 to 4 times our money eventually.

 

The only way we win if is we don't have to exchange our currency  from 3 zeroe notes to no zeroe notes outside of Iraq.  

 

Definition - Recalibrating a currency's nominal value is called redenomination and involves changing its face value, such as removing zeros, without altering its purchasing power. This is different from revaluation, which adjusts a currency's value relative to other currencies. Redenomination is often done to simplify accounting after high inflation, but the change is symbolic and does not affect the currency's international exchange rate, notes Wikipedia and Reuters. 

 

This is my opinion only

 

 

Lop wouldn't get it to $3.22.

[Shedagal]

18 minutes ago, southbeach said:

Where would I find it?

In world economy section.  I tagged you.

[cranman]

5 minutes ago, Shedagal said:

Lop wouldn't get it to $3.22.

Why not?    1000 dinar becomes 1 dinar. 1 dinar can be equal to $3.22 USD based on the oil and other natural resources Iraq has. They said in the article it will be pegged to a basket of currencies and then float or a sudden restructure.  Basically saying they haven't decided yet to either let market set the rate or the CBI set the rate. 

 

But there will be new currency and we will be forced to exchange it no matter where we reside.  I don't see the article suggesting anything else. 

 

It addresses the 90 trillion dinar outside the banks by forcing an exchange of notes both inside and outside of Iraq, and it still gives the people of Iraq much more purchasing power. 

 

How does this not work?

 

 

[cranman]

I hope I'm wrong. If this article is factual, which it could very well be as it is announcing a lop, then it is very disappointing after 20 plus years. At least we will have closure.

 

We always said if was to revalue, no one would know on advance. LOPs are always broadcasted ahead of time and seem to be more common. 

 

Doesn't really address the US being paid backed. We just assumed it would be in money form. It could be minerals, oil or other resources. 

[Dwaves]

Get articicle.... but , Before I get over pumped (after all we are talking about Iraq, and our $$ investment) Who is Dr Subhi Jabara?  I can not find any information about the author

[Shedagal]

27 minutes ago, cranman said:

Why not?    1000 dinar becomes 1 dinar. 1 dinar can be equal to $3.22 USD based on the oil and other natural resources Iraq has. They said in the article it will be pegged to a basket of currencies and then float or a sudden restructure.  Basically saying they haven't decided yet to either let market set the rate or the CBI set the rate. 

 

But there will be new currency and we will be forced to exchange it no matter where we reside.  I don't see the article suggesting anything else. 

 

It addresses the 90 trillion dinar outside the banks by forcing an exchange of notes both inside and outside of Iraq, and it still gives the people of Iraq much more purchasing power. 

 

How does this not work?

 

 

Ok, I see your point.

 

The article did call it a "revaluation", not a "redenomination." -

 

Signs of Reform: How Will “Removing Zeros” Work? The phrase “removing zeros” may sound alarming, but it is a standard monetary policy tool known as currency revaluation.

 

 

[RJG]

redenominaitons happend during hyperinflation and it is a one step process.  

[TnGBO]

Am I figuring this correct? Each million would be worth about 140,000. if the exchange rate gets to 3.50?

 

[Dwaves]

1 hour ago, Shedagal said:

In world economy section.  I tagged you.

Please tag me also, it you please 🙂

 

[Dinarrock]

2 hours ago, RJG said:

Articles

The Iraqi dinar without zeros: The Central Bank of Iraq launches a historic reform.

• Today 14:45

 

Written by Dr. Subhi Jabara…

Research and writing by: Dr. Subhi Jabara

The Central Bank of Iraq has officially confirmed that it is moving forward with its long-awaited “zero-zero” project, a massive financial reform that will fundamentally reshape the country’s economy and its standing on the global stage. In a series of statements, the Central Bank Governor emphasized that the project is not mere speculation but a concrete initiative that has generated considerable enthusiasm and interest in international financial circles [1]. This ambitious project aims to rename the Iraqi dinar by removing three zeros from its nominal value to better reflect the country’s growing economic strength. This move, which has been the subject of rumors for years, is currently under active development, with comprehensive studies and simulations having been completed. According to the Governor, the process will be gradual and meticulously planned to ensure financial stability while unlocking the currency’s true potential. 

For years, the Iraqi dinar has suffered from a decline in its nominal value as a result of decades of conflict and economic instability. The current exchange rate, hovering around an unofficial rate of 1,415 dinars to the US dollar, forces citizens to carry large amounts of cash for their daily transactions and complicates international trade and investment. The “zero-zero” project was designed to address this problem by simplifying the currency and aligning it with the country’s strong economic fundamentals, including robust oil revenues, expanding gold reserves, and deepening trade partnerships with global powers such as China, the United States, and the European Union [1]. While the Central Bank has been careful not to commit to a specific timeline, the confirmation that the project has begun marks a pivotal moment for Iraq. This represents a transition from post-war recovery to a new era of economic independence.

Signs of Reform: How Will “Removing Zeros” Work? The phrase “removing zeros” may sound alarming, but it is a standard monetary policy tool known as currency revaluation. It is not a confiscation of wealth, but rather a recalibration of the currency’s nominal value. In essence, 1,000 old Iraqi dinars will become 1 new dinar. Crucially, all prices, wages, and savings will be adjusted proportionally, ensuring that individuals’ purchasing power remains stable at the moment of the shift [1]. The real shift occurs in the subsequent adjustment of the exchange rate. The Central Bank has developed several scenarios, with internal studies predicting that the floating dinar could stabilize automatically at a value in the distant future between 3.22 and 4.25 dinars to the dollar. The governor clarified that these figures are not a declared rate but rather an indicator of the currency’s potential if it is allowed to float freely based on market demand and Iraq’s economic fundamentals. Two main paths are being considered for the next phase.

Economists close to the central bank indicate that both options remain on the table. The choice will depend on the government’s strategic priorities, whether it favors a gradual, market-driven adjustment or a swift and decisive reset. Either path would trigger one of the most significant currency transformations in the modern Middle East. The economic driver: Why is now the right time for a stronger dinar? The timing of this reform is not coincidental. The Iraqi economy is at an evolutionary turning point. The country’s fiscal position has steadily improved, driven by several key factors: Strong oil revenues: As a leading producer in OPEC, Iraq’s steady oil revenues provide a stable foundation for its economy and strong support system" rel="">support for its currency. Growing gold reserves: The central bank is actively expanding its gold reserves, a traditional safe asset that enhances monetary stability and international credibility. Deepening trade partnerships: Iraq has developed strong trade relations with major global economies, including China, the United States, and the European Union, diversifying its economic interactions and reducing its dependence on any single partner. Despite this strength, the nominal value of the dinar has lagged, widening the gap between the official exchange rate and its true value. Each time Iraq’s GDP grows or its foreign reserves increase, this discrepancy becomes more pronounced. The “zero-zero” project is the mechanism to close this gap, allowing the currency to finally reflect the country’s true wealth and economic progress [1]. This reform is expected to have profound global implications. Revaluing the Iraqi dinar would: • Boost regional investment: A stable and strong currency would make Iraq a more attractive destination for foreign investment, thereby fostering economic growth throughout the region.

• Reduces dependence on the dollar: By re-pegging its currency to a diversified basket of currencies or commodities, Iraq can reduce its reliance on the US dollar for oil settlements, a move with significant geopolitical implications. • Inspires monetary reform: It could inspire neighboring economies to reassess their monetary structures, potentially triggering a wave of fiscal modernization across the Middle East. For Iraq itself, this is more than just an economic adjustment; it is a step toward a historic fiscal renaissance, signaling Iraq’s transition from post-war recovery to a future of economic independence and self-determination. A new chapter for Iraq: The way forward. The central bank governor has emphasized that this reform is not a rash or hasty move; every step is carefully measured, documented, and designed to maintain stability and public confidence. While the precise implementation timeline remains confidential, the confirmation that the project has commenced and the preliminary studies are complete indicates that implementation is closer than ever. When the reform takes place, whether through a gradual float or a sudden restructuring, it will permanently alter Iraq’s fiscal identity. The phrase “removing zeros,” as simple as it sounds, represents one of the most ambitious and complex financial engineering projects in the country’s modern history. The central bank is not just changing numbers; it is redefining how Iraq interacts with the global economy. The world is watching closely. The potential shift in the dinar’s value, with projections ranging between 3.22 and 4.25 to the dollar, has captured the attention of investors, economists, and governments worldwide. This is not just an economic story; it is history in motion. As Iraq stands on the precipice of this financial transformation, the message is clear: the nation is ready to transcend its past and write a new chapter of prosperity and strength.

https://almaalomah-me.translate.goog/articles/115052/الدينار-العراقي-بلا-اصفار:-البنك-المركزي-العراقي-يطلق-اصلاحا?_x_tr_sl=ar&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc

Wow wow wow now isn’t this the Mother of ALL Articles ever posted!!!!! I cannot believe they posted this to be quite honest but hey maybe they figured it’s taken so long and so many people are aware it doesn’t really matter anymore!!! They know how much currency has been printed and just as an fyi for those who do not research or know Iraq only has to cover the exchange rate for what is inside the borders of Iraq!! All the currency outside of Iraq will never make it back to Iraq if you haven’t figured that out by now then just wait and stop complaining about a Lop that is never going to happen!!  The larger notes and new smaller denom notes will coincide for a period of time before they make the larger notes worthless if ever!!! It’s been stated over and over in the past and also by Shabibi so if you do not believe that then you should have sold your dinars a very long time ago!! Why stress yourself anymore you have already invested and spent the money many years ago by now!! Sit back relax and see how it plays out!! But hands down the absolute best article we could have ever seen!!!!!

[Shedagal]

2 minutes ago, Dwaves said:

Please tag me also, it you please 🙂

 

Done.

 

Others can go to World Economy section and see thread "for deep thinkers".

[steveh12]

I'm So Confused. 🙄