Link ~ Educating the citizens of Iraq on the deletion of zeros (has been ongoing) ...Bumped ~ older article ~ imo, this will be when the banks introduce the lower denominations (2currencies coexisting).
February 10, 2010
Two currencies coexist together and gradual replacement
Central Bank (time): Delete the zeros start end of the year
BAGHDAD - Ahmed Saleh Khyoun
CBI begins the end of the year and gradually replace the currency now in circulation a new currency which zeroes deleted within the strategy to reform the monetary system started in 2005.
Bank consultant and announced the appearance of Mohammed Saleh told (time) on that (the bank has completed 50 percent of a strategy switch in and out, delete the zeros of the nominal value of the new currency while retaining the cash value and purchasing power), said that (the replacement process will be gradually and spontaneously high and without fanfare, as will be There are two currencies to trade at the same time go hand in hand), but (that the purchasing power of the new currency will remain fixed).
Saleh said (there are multiple advantages of this strategy, including ease of trading between the citizens and facilitate the work of banks, counting, sorting, and stand on the counterfeit currency and to facilitate transactions of the citizens with the banks on the deposits and withdrawals in addition to facilitating the process of monetary reform after hitting a currency issued in circulation now 25 trillion dinars, while in 1990 was about 25 billion dinars and this in itself calls for the deletion of zeros).
In the answer to a question by (time) whether the Central Bank has set a deadline for the replacement of the currency said (we did not define this ceiling until now that the matter is still under study and the reality of work at that time will decide how long the replacement process).
Responding to another question about the Iraqi currency held abroad and how to replace it "(The right of a citizen is to remove the $ 200 thousand dinars and he could replace it like any ordinary citizen here in Iraq, either from abroad, the banks in the States would be responsible to us of the assets of our currency, too), He pointed out that (a media campaign will precede and guide the process in order to raise public awareness of the importance of this and that our banks and our will all be ready to provide all facilities to the citizens and emphasize once again that the process does not affect absolute quiet in the market also ...
(note that many countries replaced their currency and benefit from their experiences in this area, including Turkey, Russia, Brazil and others).Link ..
Note ~ NOT A LOP ~
The following statements mentioned in the following articles are indirectly saying that all Iraqi Dinars with 3 0's will be Removed from Circulation. That would mean that the 25,000, 10,000, 5,000 and 1,000 dinar notes will, over time (gradually), be taken out of circulation. This is Not a lop. Time will be given to trade in the higher notes for smaller notes and eventually the higher notes will no longer be used and will be Phased out Completly. Also Iraq is in its own category apart from Turkey, Russia, Brazil and others who have actually lopped.
***Positive ~ links to articles relating to Iraq's Currency and Monetary Policy ...
*** Central Bank of Iraq: the rate of inflation to 2.7% encouraged the launch of liquidity to banks (2 articles) ...
*** IRAQ PLANNING CURRENCY REDENOMINATION ...
