Sunday, April 24, 2011

Quick Fact

Back before Saddam started to inflate the currency the dinar was at a 3:1 exchange with the US Dollar
3 dollars for 1 IQD  they had 30 billion notes printed. 

"The reason its value had dropped so low was because of Saddam’s Inflationary monetary policy. In comparison, back in the '80s, before the Saddam Dinar came about, the rate of exchange was about $3 to one Dinar"   

 Brigadier General Hugh Tant,