Article: "Small denominations of the Iraqi dinar reveal a negative indicator of the money supply... An expert explains with figures" Quote: "According to data from the Central Bank of Iraq ...
the total number of banknotes issued increased from about 5.8 trillion banknotes in 2022 to 6.3 trillion banknotes in 2026, which led to an increase in the per capita share of banknotes from 120 banknotes to 141 banknotes, raising their total value per person from 1.8 million dinars to 2.51 million dinars...
the 50,000 dinar... as the number of issued notes jumped from 319 million notes in 2022 to more than 941 million notes in 2026... the prominence of large groups is an economic indicator that most of this money is going towards hoarding outside the banking system instead of circulating in the economy...The failure of small groups to grow in proportion to the size of the total money supply...necessitates a comprehensive review of monetary policy"
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💵🇮🇶 Is Iraq's Currency Structure Pointing Toward the "Delete the Zeros" Project?
A new report based on Central Bank of Iraq (CBI) data reveals an important trend in Iraq's money supply.
Between 2022 and 2026, the number of banknotes in circulation increased from 5.8 trillion to 6.3 trillion, while the number of 50,000 IQD notes nearly tripled—from 319 million to more than 941 million. At the same time, an economist notes that smaller denominations have not expanded proportionally, suggesting that large amounts of cash are being hoarded outside the banking system and calling for a comprehensive review of Iraq's monetary policy .
The CBI has spent years working to reduce cash dependency, expand electronic payments, strengthen the banking sector, and eliminate the parallel market. Could restructuring Iraq's currency eventually become the next logical step?
💡 My Perspective
This report comes at a very interesting time—July 2026, just a few months before September, a month many of us have already identified as potentially significant for Iraq.
By September, several major milestones are expected to converge:
✅ Progress on the 2027 Federal Budget.
✅ The September 30 deadline for Iran-backed militias to disarm.
✅ The planned conclusion of the International Coalition's mission.
✅ Continued economic and banking reforms.
It's interesting that this monetary policy discussion is emerging now, almost as if it is helping prepare the groundwork for what could come after September.
Could the CBI be positioning itself to finally move forward with the Delete the Zeros Project once these major political, security, and economic milestones are behind it?
No one knows for certain, and there has been no official announcement. But the timing of this report, combined with the broader reform agenda, certainly makes it an interesting development to watch.
👀 We continue connecting the dots... and September 2026 is looking more important than ever. 🇮🇶
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