CBI is working to put the two categories, one hundred fifty thousand dinars of currency

[Alex38]

Uhhhhh... it doesn't make sense. Any way you spin it. 

[SocalDinar]

Maybe they got rid of the 50 because it was only worth 4/10 of a penny and was not needed . At least they are not redenominating anytime soon if they are introducing the 50k and 100 k notes. Gives us more time to raise the value

[TennesseeCherokee]

I remember a couple years ago,the CBI talking about creating larger denominations for inter-bank {in country} and international bank transfers of their dinar.

This makes perfect sense in that larger denoms require a lesser quantity of banknotes....and is both easier to count and more cost effective in that it would require the printer to make less of them....again, cost effectiveness ~

[magawatt]

Will all this note swapping increase the standard of living for the Iraqi people? Will imported goods be more affordable?

[2fast4u2c]

Sounds like we have a while to wait

[Catluver67]

It's a translation issue...

It's a new 50 dinar coin that will be WORTH what 50,000 dinars is currently ($43) but marked as only 50...thus deleting the zeros. See the explanation from 2012 below.

'Iraq confirmed it will issue a new banknote valued at 50,000 dinars (US$43), but marked as 50 dinars.'

Iraq planning new 50,000-dinar note

Mar 08, 2012 11:45 AM Category: Middle East

According to an article on Iraq-Business News dated 28 November 2011, the Central Bank of Iraq confirmed it will issue a new banknote valued at 50,000 dinars (US$43), but marked as 50 dinars. Deputy Chairman Dr. Muzher Saleh said the bank is working to issue this new money in addition to coins in both Arabic and Kurdish in an effort to address the liquidity problem in Iraq. Currently the largest denomination in Iraq is the 25,000-dinar note (Pick 96). The new currency will include symbols that reflect the diversity of Iraq’s sects and cultures including the Kurdish culture. “Iraq needs to support its economy and its currency through the issuance of a currency similar to foreign ones like the $100 bill,” Saleh added.

[RV4CandyMan]

Thank you. Letting it play out.

[Freedomwish]

Ok so we know they have NEW 25k, 10k, 5k, 500, 250 Notes printed and out, I bet the 50 and 250 has been printed also. maybe after the 30th when the old 50 are no longer good. these will come out. Put this with Adams email last week .The IMF and World Bank week before last. Maybe May 4th will hold something for us. JUST MY 

 

Brother Adam had sent out an email last week?  I've been on the lookout for nearly a month!  Could someone please share a link if available?  

 

Thanks! 

[jg1]

Maybe they got rid of the 50 because it was only worth 4/10 of a penny and was not needed . At least they are not redenominating anytime soon if they are introducing the 50k and 100 k notes. Gives us more time to raise the value

I remember them saying that the 50 dinar note didnt have any fraud prevention markings, that was one of the reasons they removed it. Value had to be one of the reasons too, sheez 4/10 of a penny, they lost money on printing that note.

[unirod]

This is about as close to an announcement of the new lower notes release that we're going to get....IMO 

[Snazzy11]

I have some  $250 dinar notes.... Do you think these notes will be done away with like the 50 & 100 dinar notes?

[Laid Back]

This is about as close to an announcement of the new lower notes release that we're going to get....IMO

I agree with you unirod.!!

Increase the exchange rate first, collect the rest of 000's notes in the next two years and at the same introduce the lower denomination notes and coins.

Go Iraq

Go dinar

Go $1+