Lower Dinar Denominations to come out?
As I calculated in my TABLE C of the Munny Model when the Iraqis reach the .02 USD level they very well may need to release some lower Dinar denominations. We've had rumours of those denominations and some hints that they may already be printed and ready for release. Here are some other links that discuss lower denominations and this is a good place to revisit them as we wait for Jan 8. http://www.cipe.org/regional/mena/iraq/businesstalk.php I would love for someone to transcribe and translate episode 6 program on that page. I feel it may be the biggest clue we have towards lower denominations and a potential IQD target value. Here is a synopsis of the show: http://www.cipe.org/regional/mena/ir...nopsis_ep6.pdf
Another interesting clue we found was at this website: http://www.islamicbanknotes.com/ Click on the “News Page” section. Once there go to 2003 and scroll down to Iraq. It discusses the release of the new IQD and has this tantalizing tidbit: (The serial number prefixes use the 'abjad' sequence of the Arabic alphabet, but the first letter, alif, is not used. This suggests that a lower denomination may yet appear, or was considered but ultimately not issued.) The reason this is so significant is that the website has been around for a long time and is an extensive look at all Middle Eastern currencies, not focusing only on Iraq or IQD. It’s an independent reference to IQD!!!
Finally I still find the choices of the New Iraqi Dinar denominations VERY interesting. Let's take another look at the neighboring denominations:
Kuwait 1KD = 3.4 USD (1 KD = 1,000 Fils) 12 Denominations:
Notes: KD 20, 10, 5, 1 Fils 500, 250
Coins: Fils 100, 50, 20, 10, 5, 1
Bahrain 1BD = 2.7 USD (1 BD = 1,000 Fils) 9 Denominations:
Notes: BD 20, 10, 5, 1 Fils 500
Coins: Fils 100, 50, 25, 10
Oman 1 ORial = 2.6 USD (1 OMR = 1,000 Baiza) 13 Denominations:
Notes: OMR 50, 20, 10, 5, 1 Bai 500, 250, 200, 100
Coins: Bai 50, 25, 10, 5
Jordan 1 JD = 1.4 USD (1 JD = 100 Piaters or 1,000 Fils) 13 Denominations:
Notes: JOD 50, 20, 10, 5, 1 Fils 500
Coins: Fils 500, 250, 100, 50, 25, 10, 5
Iraq 1 IQD = .0007 USD 9 Denominations:
Notes: IQD 25,000, 10,000, 5,000, 1,000, 500, 250, 50
Coins: IQD 100, 25
Saudi Arabia 1 SAR = .27 USD (1 SAR =100 Halala) 15 Denominations:
Notes: SAR 500, 200, 100, 50, 20, 10, 5, 1
Coins: Halala 50, 25, 10 Qurush 10, 5, 2, 1 (5 Halala = 20 Qurush)
Qatar 1 QR = .27 USD (1 QR =100 Dirams) 11 Denominations 8 of which are in real circulation:
Notes: QAR 500,100,50, 10, 5, 1
Coins: Dirams 50, 25….. {10, 5, 1 rare}
UAE 1 Dirham = .27 USD (1 AED = 100 Fils) 13 Denominations 11 of which are in real circulation:
Notes: AED 1000, 500, 200, 100, 50, 20, 10, 5
Coins: AED 1 Fils 50, 25…. {10, 5 rare}
Iraq has stated they want to move their currency exchange rate onto a par with their Middle Eastern neighbors. So isn't it interesting that if they "value out" the 25K, 10K, 5K, and even the 1K notes through IQD appreciation they resemble extremely closely the Saudi Arabia, Qatar, and UAE denominational structure??? At that point they would add a 10, 5, and 1 Dinar notes and some Fils if they needed. Seems to me that were they aiming for their higher neighbors the starting IQD denominations would not have been 25K/10K. Keep in mind this does not prove they are targeting .27 USD absolutely. Just one of many clues I found that sort of point that way!!! :smile:
