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"NEW" small notes


rockfl9
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Didnt take long for the GooooRUS to twist a simple announcement into a form of preannounce of an RV/RD!

Truth is  Iraq is a cash economy. Merchants dont have POS and cc readers like we have here , they must make change in cash.  The only thing this announcement means is that they are getting tight on available small notes .  They dont have coins that last a long time . The small notes are folded and handled carelessly so they wear out fast.  Inability to make change will shutdown a small business.  

All this special window does is allow a merchant to send employee with a couple of 25K notes to this window to get a quick handfull of smalls to keep his business going .. THAT's ALL.

Note however that every note , even the smallest costs 6 cents ( that's 72 dinar)  to replace !!!!  That is an expense to the CBI.  That is why the 50 note is gone. The 100 will be next.

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That's what I was thinking too. Unfortunately the small note are equivalent to our coins.  Can't dispute your reasoning.  When coins come out then I will be excited.  That being said, it doesn't hurt to have fresh low notes out there already circulating  when/ if the coins come out.

 

No ruby from me. 

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15 hours ago, new york kevin said:

I wanted to ruby you as a spot of gamesmanship, but I just couldn't. I agree with the Rocks statement bigly. Peace BA. Have a great weekend.

 

Thanks Kev enjoy your family this weekend. I agree with Rock too. It does make sense. I also agree with cranman… If coins show up excitement will follow.

 

B/A 

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19 hours ago, cranman said:

That's what I was thinking too. Unfortunately the small note are equivalent to our coins.  Can't dispute your reasoning.  When coins come out then I will be excited.  That being said, it doesn't hurt to have fresh low notes out there already circulating  when/ if the coins come out.

 

No ruby from me. 

Thanks Cranman.  Coins would be a sign that the CBI has locked in a rate.  The key category would be the one dinar coin .   It would be a big commitment .  A penny costs our mint over 2 cents to make and that is only because of the mints superior efficiency.  I dont see  dinar coins comming for a while. 

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