MAJEED “💸 Don’t Be Fooled! Counting Zeros Matters in Iraqi Dinar Forex Rates”

2 months ago 4
ARTICLE AD BOX

MAJEED

“💸 Don’t Be Fooled! Counting Zeros Matters in Iraqi Dinar Forex Rates”

  • Location: Currency exchange center, outside Iraq.

  • Key Insight: Even if Iraq removes zeros from its banknotes domestically, international Forex markets still count all zeros.

  • Example: If the Iraqi Dinar hits $3, a  10,000 Dinar note would be worth $30,000 outside Iraq!

  • Why it matters: This clears up confusion about currency value—your physical note’s face value vs. its Forex exchange worth can be vastly different.

  • Source: Majeed’s firsthand visit and chat at the exchange center.

    ------

    Majeed

    Today I went to the currency exchange center here in my city

    And I asked them if they count the zeros of every currency once the rate goes on Forex

    The guy replied with we don't care if the Iraqi government deleted the zeros on their notes inside their country... since we are outside of Iraq, we count the zeros ... like for example if the rate of the Iraqi dinar went to $3 and you had the 10,000 note of the Iraqi dinar.... You would walk out with $30,000". Here is the answer for your unanswered question for a long time!!


Read Entire Article