diff --git a/src/libs/actions/IOU.js b/src/libs/actions/IOU.js
index 86cd791f7fce..65975222718d 100644
--- a/src/libs/actions/IOU.js
+++ b/src/libs/actions/IOU.js
@@ -75,11 +75,29 @@ 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 c3b581cec642..488bd658cb33 100644
--- a/src/pages/iou/steps/NewRequestAmountPage.js
+++ b/src/pages/iou/steps/NewRequestAmountPage.js
@@ -22,6 +22,7 @@ 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 */
@@ -165,6 +166,10 @@ 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) {