New notes - low doms OR replace big doms?

[mike623317]

After reading what may well have been a lot of hype in the recent articles. Could people vote on this please .......

Lets assume there will be printing NEW lower value notes (if the Minister of Finance is correct).

Will they ......

a) Replace the high value notes (25,000)?

OR

b) Circulate the lower value notes BUT keep the high value notes, just wont make anymore for circulation

[Joe D_inar]

After reading what may well have been a lot of hype in the recent articles. Could people vote on this please .......

Lets assume there will be printing NEW lower value notes (if the Minister of Finance is correct).

Will they ......

a) Replace the high value notes (25,000)?

OR

b) Circulate the lower value notes BUT keep the high value notes, just wont make anymore for circulation
They will need the higher value notes for interbank exchanges and for large transactions untill the country can move away from a mostly cash based economy. !!!!!

[PaulieThaGreat]

This is soooo true. This is why they wont reprint... They should just take bills out of circulation over time... :happy64:

[Freelancer]

They will need the higher value notes for interbank exchanges and for large transactions untill the country can move away from a mostly cash based economy. !!!!!

Thats the most intelligent thing I read in few days, and an excellent point. Sometimes I forget that they have been intrenched in a cash based economy for so long.

Of course, it may have been said elsewhere, but I probably missed it with all the blah blah blah, naysayer this, and that, lop loop lopp, wrong, wrong, wrong, naysayers are wrong, phooey thats been posted lately.

Thanks for reminding me and bringing this up.

[PaulieThaGreat]

Anyone with common sense knows they will need the Higher Notes.... YOU JUST MADE MY DAY! :happy64: :lmao: :happy64:

[Freelancer]

Anyone with common sense knows they will need the Higher Notes.... YOU JUST MADE MY DAY! ....

I hope this isnt sarcasm, because, in essence, this is the best reason I have heard in a few weeks against a "reprint."

They(iraq) dont have real options solidly inplace for very large business and interbank transactions, progress has been made, conditions still are not ideal. And I think this may help delay a reprint.

[PaulieThaGreat]

There wasnt one bit of sarcasm in that sentance I made young scholar.:happy64:

[Switchgear]

I am sure that someone on this forum can verify this or disprove it. I don't have a link or any proof. But, I do remember hearing somewhere that they had already made several lower denomination coins and that the entire shipment was hijacked. I beleive this happened around the same time the new currency was first being introduced a couple of years ago. I can't remember where I heard it, but I do remember that things were such a mess back then that it seemed that they just said screw it, we'll mint a new batch of these coins when the time comes. Anyone remeber anything like this or am I just suffering from Iraq info overload?

[dinarmad]

It was the 50 dinar coin only ...

[Texas_dinar]

Hmm..tough call, not sure what to vote. With doing my research and reading this board, my opinion is if the lop is going to happen it will not happen right away. Perhaps sometime shortly down the line after the dinar revals. JMO

[removed account per user]

Thats the most intelligent thing I read in few days, and an excellent point. Sometimes I forget that they have been intrenched in a cash based economy for so long.


That was a truly profound statement...

Its not like the have T-Bills over there yet, huh?

And if the exchange rate rises slowly to as much as 1 US penny per Dinar, the 25,000 NID note would still be a very reasonable $250 USD value.

Why would that be so crazy?