EFFECTIVE OCTOBER 2009
WHO: ALL CUSTOMERS dealing with Finance Offices in Theater
- Removal of US currency
- Increased use of Iraqi Dinar and EFT payments
- AII checks cashed will be loaded on to an ECC
- You WILL NOT be able to withdraw US Dollars from your ECC
- You are able to withdraw Iraqi Dinar from your ECC at the daily exchange rate.
WHERE: Victory Base Complex (VBC) and OIF Theater
WHY: The U,S. Dollar is being phased out of the theater This will facilitate a decrease in the dependency of the U.S. Dollar, and to encourage Iraqi Financial Institutions to expand and mature into reliable resources for the Iraqi people.
The question is... What about all the Iraqi Dinar which returns home with the troops?
Is it a souvenir? Or will they be able to trade it in for their own currency someplace other than Iraq?
The rumors are flying. In my own opinion, I feel that a RV will be announced in the next few months, and that the Iraqi Dinar will be open to International Trade.