Delete zeros and evaluate the dinar

Delete zeros and evaluate the dinar
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Transcript at https://rss.com/podcasts/myfxbuddies/

In a newspaper column a while ago, we explained the concept of deleting zeros, and today we are talking about the concept of currency revaluation, which means a calculated upward adjustment of a country’s official exchange rate relative to a chosen baseline, which can include (wage rates, the price of gold, or a specific foreign currency), and revaluation is the opposite of devaluation. In a fixed exchange rate system (the system followed by Iraq), only a decision from the state (the central bank) can change the official value of the currency, and developing economies are likely to use a fixed exchange rate system in order to limit speculation and provide a stable monetary system in the country. In a flexible exchange rate system, revaluation occurs on a regular basis, as evidenced by the noticeable fluctuations in the foreign exchange market and the associated exchange rates.