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EverCurious452

currency issued by CBI going from 50T to 5T?

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There is much yadda yadda about the currency issued by the CBI going from ~50T down to ~5T as seen by 2nd graph (from https://cbiraq.org/SeriesChart.aspx?TseriesID=157)

But M0 (from https://cbiraq.org/SeriesChart.aspx?TseriesID=152) has not gone down (the first graph).  What "currency issued by the CBI" even means as opposed to M0, I don' know.  But the interesting thing is that currency with commercial banks (the 3rd graph) from (https://cbiraq.org/SeriesChart.aspx?TseriesID=158) has gone in the opposite direction.  So I think the obvious conclusion is that there has been a data entry error and these two numbers have been swapped.

 

Chart_4aa20e27-ff91-4226-8862-81cc63be70a8.png

Chart_3535f77a-238e-4822-8699-35acf4bda0ed.png

Chart_415c4c3b-277f-42f3-9e8a-806dc841b777.png

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I’m thinking the CBI just rolled the money into the commercial banks, in preparation for the big reconstruction kickoff. 
New rate included.  
5/50 = $0.10 cents.  

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5 hours ago, gregp said:

I’m thinking the CBI just rolled the money into the commercial banks, in preparation for the big reconstruction kickoff. 
New rate included.  
5/50 = $0.10 cents.  

If that was meant to be taken seriously (maybe you were joking?) I have no idea what it means.   IQD in banks (commercial or otherwise) is very different than IQD in the CBI.  And why does that arithmetic imply a new rate?  M0 and M1 have not changed.  A rate of 10 IQD per 1 USD would drain the CBIs foreign reserves with only 1% of the usual IQD coming in for exchange (i.e. to buy imported stuff).

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These graphs come off of a spreadsheet program. It should be obvious that the clerk entered the values in the wrong columns .

Should be corrected next entry. The are only human.

Nice try!

 

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