Response to Guru Deepwoodz new 1000 fil note post below by BUCKEYETREE, 11 MAY

Buckeyetree 

  [Response to Guru Deepwoodz  new 1000 fil note post below]

  We do not know the exact rationale for the CBI to display a 1000 fils note or imply its future use if there is also to be a one dinar note...

We have both a paper one dollar bill and a silver one dollar coin...The 1000 fils note could be released as tender but may become a collector's item while still legal tender.  Such is the case of the $2 dollar bill, not widely used but still legal tender.  

The CBI is holding back...the photos of the primary lower denoms.  The 1000 fils note photo may be a way to give confidence to the contractors that big changes are on the way with an exchange rate that would support the use of such a 1000 fils note. 

Deepwoodz 

 [Response to Guru Frank26's new 1000 note post below] 

 Why would you need a 1000 fil note? 

 Wouldn’t that be 1 dinar? 

That’s what it is in Kuwait and other countries that use dinar. No way you print two notes to represent the same value. 

Can someone help this make sense? 

  Kuwait’s are 1, 5, 10, 20, 50, and 100 fils. 1000 to a dinar. No reason  Iraq would be any different. Doesn’t really matter, I don’t care if they print three versions of the 1 dinar note. As long as they print at least one, I’m golden.

Frank26 

 On the CBI website back in January of this year...the CBI started the monetary reform campaign to the Iraqi citizens...It was on January 1, 2024 that the Central Bank of Iraq displayed this green looking currency...You'll notice three zeros.  What this is a 1000 but it is not what you think it is.  What is the color of the 1000 note that's out there right now? 

 Yellow/gold...What's this 1000 note that's green?  ...It is a fil...They are not going to release a 1000 lower note...They're not only going to release coins made out of precious metals but they're also going to release fils in paper.