Recently however we've heard a buzz from VERY credible sources about new Iraqi DInar banknotes being issued. That's all we've heard though. It's been very vague information. This could mean a number of things. Some people claim it means they're lopping the zeroes, outmoding the currency, revaluing the currency, all sorts of crazy things.
We have no confirmed information to back this up but our feeling on the issue is this. It's simply issuing a new bill. The same way the US Mint comes out with new $20 bills ever few years Iraq could very well be doing the same thing. Currently Canada has a few bills being used in both 20, 50, and 100 notes. Even the Euro has two different 5 denomination notes floating around currently. One is blue and the other is a greenish hue.
Iraq is most likely doing the same thing. We havn't confirmed this is even true about new notes though comming from a reliable source we think there's something to this rumor. That said though we don't have any further info to go on and though this is a vague rumor, we have a feeling it's just a new note being issued. That it shouldn't affect the current value of the Dinar, nor should it mean anything about a revalue but is just a new note being issued. Time will tell, we'll see if we see a new note rolled out soon or at the very least hear some confirmed information about it.