Alex38 Posted April 27, 2015 Report Share Posted April 27, 2015 Uhhhhh... it doesn't make sense. Any way you spin it. 1 Link to comment Share on other sites More sharing options...
SocalDinar Posted April 27, 2015 Report Share Posted April 27, 2015 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 1 Link to comment Share on other sites More sharing options...
TennesseeCherokee Posted April 27, 2015 Report Share Posted April 27, 2015 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 ~ 1 Link to comment Share on other sites More sharing options...
magawatt Posted April 27, 2015 Report Share Posted April 27, 2015 Will all this note swapping increase the standard of living for the Iraqi people? Will imported goods be more affordable? 1 Link to comment Share on other sites More sharing options...
2fast4u2c Posted April 27, 2015 Report Share Posted April 27, 2015 Sounds like we have a while to wait Link to comment Share on other sites More sharing options...
Catluver67 Posted April 27, 2015 Report Share Posted April 27, 2015 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. 1 Link to comment Share on other sites More sharing options...
RV4CandyMan Posted April 27, 2015 Report Share Posted April 27, 2015 Thank you. Letting it play out. 1 Link to comment Share on other sites More sharing options...
Freedomwish Posted April 27, 2015 Report Share Posted April 27, 2015 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! Link to comment Share on other sites More sharing options...
jg1 Posted April 27, 2015 Report Share Posted April 27, 2015 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. Link to comment Share on other sites More sharing options...
unirod Posted April 27, 2015 Report Share Posted April 27, 2015 This is about as close to an announcement of the new lower notes release that we're going to get....IMO 1 Link to comment Share on other sites More sharing options...
Snazzy11 Posted April 27, 2015 Report Share Posted April 27, 2015 I have some $250 dinar notes.... Do you think these notes will be done away with like the 50 & 100 dinar notes? Link to comment Share on other sites More sharing options...
Laid Back Posted April 27, 2015 Report Share Posted April 27, 2015 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+ 1 Link to comment Share on other sites More sharing options...
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