Walkingstick
They didn't print new coins. The old coins they had are still good. That might be one of the reasons why IMO they're going to incorporate it along with the lower denoms at the same time...They have not manufactured any new coins. The CBI is going to use the old coins. Those coins are sitting in the CBI vault...You can throw away fiat. You can throw away paper, the 3-zero notes, but it would be dumb to throw away precious medals. It doesn't have Saddam on it...Coins don't.
By mid-January 2024 the CBI is giving a time frame where the IQD CBI exchange rate will be one in the same as the market rate. That's all that matters. Let's see what that rate is by mid-January. The black market rate will be no longer...that shows great control of the CBI official exchange rate for their currency.. The goal to de-dollarize has been the goal all along of the monetary reform - to remove the American dollar from Iraq's banking structure. The fact that we are there is exciting.
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