The new currency category 50 Thousand carry tamper-proof specifications

The new currency category 50 Thousand carry tamper-proof specifications


May 21, 2015


BAGHDAD / Center Brief for the Iraqi Media Network (IMN) Finance Committee member Abdul Qader Mohammed said that the issuance of new editions of the coin fifty thousand class will be designed in accordance with the distinctive techniques by specialists to prevent the possibility of forgery.

He said Muhammad's (IMN) that "the new currency will be launched soon in accordance with regulations and modern techniques and under the supervision of specialized technicians and design N fraud," pointing out that "the new currency will compete with other currencies in the internal handling of the Iraqi market."

He explained that "the new currency strength will add liquidity and raise the cash value, as well as it will be an important factor to improve the national economy."

Rasheed Bank and announced near practiced Activity auction of foreign currency in order to strengthen the Iraqi dinar against the dollar, as he emphasized the economic and investment commission parliamentary member of the Charter of Hamdi earlier, the bank printed new financial category worth fifty thousand dinars will be traded soon.

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Let's say after the 50k and the 100k came out that the exchange rate was 1000 to 1 as a first managed rate move. Think this through with me...

At this rate, the USD purchasing power equivalent of IQD notes in circulation would be: 100, 50, 25, 10, 5, 1, .50 and .25.

Just look at that for a minute....looks familiar, right?

Now, let's say the exchange rate moves to 500 to 1. Now, the USD purchasing power equivalent of IQD notes in circulation would be: 50, 25, 12.50, 5, 2.50, .50, .25 and .125. At this point, you can already see the need for middle demons to be released. Also, at this point the largest note is not so large...only 50. So, as the USD equivalent looks weaker and weaker, the dinar gets stronger and stronger.  

As the exchange rate continues to grow for the dinar, the three zero notes become too large to be useful and the need for smaller demons to be released grows. The 1 and 5 dollar bills are used the most in iraq so they will likely stay until confidence in the dinar is had.

Ok, look back at the first part of this post. These large notes have a purpose for this transition from the dollar to the dinar which starts with the project to remove the zeros. The purpose of these large notes is for larger transactions and will mitigate the volume of notes needed in a time where actual notes continue to be brought in.

It all fits and makes sense if you step back and see the big picture. Remember, this will be a gradual process per the CBI. Also keep in mind this is part of their plan.

thanks Shredd

thanks Shredd, good comments



Shredd says It all fits and makes sense if you step back and see the big picture. Remember, this will be a gradual process per the CBI. Also keep in mind this is part of their plan.


i got nothing but time