https://www.youtube.com/watch?v=y5AhfQ6gAAI
Iraq Prints New Iraq Dinar with Security Features For The Blind
The Central Bank of Iraq (CBI) has announced that they have re-printed several new Iraq dinar currency denominations. The new printed Iraq currency denominations are the same as the previous ones in circulation, from October 2003. The difference between the October 2003 printing of the Iraq dinar and the recent re-print is the addition of more security features as well as Kurdish language and better readability for blind people.
Recent reports say that the new re-printed notes are now going to co-exist with the current bank notes. They will both have the same exchange rate. The Central Bank is doing this to counter the criminal gangs that are counterfeiting the Iraq dinar. The CBI has re-printed the denominations of 250, 500, 1000, 5,000, 10000, 25000. This new addition of more bank notes will add to what is already in circulation. Since the printing in October 2003, there has been no coordinated effort by the CBI to remove notes from circulation. The only notes that have been removed are the ones that are worn out and have been turned in for credit by the Iraqi banks. In the future, the CBI intends to start printing larger denominations such as 50,000 Iraqi dinar banknote. This is to control the current inflation in Iraq.
The CBI has also announced that they have made arrangements to purchase large amounts of gold. The reason they are doing this is because Iraqi’s are exchanging their Iraq dinar for U.S. dollars. This is evident when you observe the Central Banks daily currency auctions, which are in the hundreds of millions of dollars. The Central Bank has realized that they need to increase the value of the Iraq dinar quickly. The Iraq government is the number one employer in Iraq and most are being paid in Iraqi dinar. When they are paid they quickly exchange for U.S. dollars at a local bank or go to a currency exchange business.
Last year the CBI tried to halt the smuggling of U.S. dollars out of Iraq. The CBI seems to be failing despite their policies that have been in place as laundering continues.
Ministry of Interior
Ministry of Defense
Leader of the Dawa Party
Leader of the State of Law coalition
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Iraq Prints New Iraq Dinar with Security Features For The Blind
https://www.youtube.com/watch?v=y5AhfQ6gAAI
