diff --git a/src/libs/actions/IOU.js b/src/libs/actions/IOU.js
index 198ceb2b8172..152f285c84af 100644
--- a/src/libs/actions/IOU.js
+++ b/src/libs/actions/IOU.js
@@ -75,29 +75,11 @@ Onyx.connect({
     },
 });
 
-let didInitCurrency = false;
-Onyx.connect({
-    key: ONYXKEYS.IOU,
-    callback: (val) => {
-        didInitCurrency = lodashGet(val, 'didInitCurrency');
-    },
-});
-
-let shouldResetIOUAfterLogin = true;
 let currentUserPersonalDetails = {};
 Onyx.connect({
     key: ONYXKEYS.PERSONAL_DETAILS_LIST,
     callback: (val) => {
         currentUserPersonalDetails = lodashGet(val, userAccountID, {});
-        if (!val || !shouldResetIOUAfterLogin || didInitCurrency) {
-            return;
-        }
-        // eslint-disable-next-line no-use-before-define
-        resetMoneyRequestInfo();
-        shouldResetIOUAfterLogin = false;
-        Onyx.merge(ONYXKEYS.IOU, {
-            didInitCurrency: true,
-        });
     },
 });
 
diff --git a/src/pages/iou/steps/NewRequestAmountPage.js b/src/pages/iou/steps/NewRequestAmountPage.js
index c9e2ca464303..ae319f5a73bb 100644
--- a/src/pages/iou/steps/NewRequestAmountPage.js
+++ b/src/pages/iou/steps/NewRequestAmountPage.js
@@ -22,7 +22,6 @@ import HeaderWithBackButton from '../../../components/HeaderWithBackButton';
 import ScreenWrapper from '../../../components/ScreenWrapper';
 import {iouPropTypes, iouDefaultProps} from '../propTypes';
 import CONST from '../../../CONST';
-import FullScreenLoadingIndicator from '../../../components/FullscreenLoadingIndicator';
 
 const propTypes = {
     /** React Navigation route */
@@ -161,10 +160,6 @@ function NewRequestAmountPage({route, iou, report, selectedTab}) {
         />
     );
 
-    if (!lodashGet(iou, 'didInitCurrency', false)) {
-        return <FullScreenLoadingIndicator />;
-    }
-
     // ScreenWrapper is only needed in edit mode because we have a dedicated route for the edit amount page (MoneyRequestEditAmountPage).
     // The rest of the cases this component is rendered through <MoneyRequestSelectorPage /> which has it's own ScreenWrapper
     if (!isEditing) {