I forget the exact note count but I believe it was 9 billion notes representing 30 Trillion dinar.
That’s the most they ever had in actual notes…they were not going to revalue at a buck or .50 or .10 with 30 trillion dinar on the market…and that’s why the CBI has an agenda to reduce the note count.
Otherwise there would be no reason to do that.
Do you know how much it costs to reduce the note count of a country?
Especially when you have 9 billion notes out there that represent 30 trillion dinar, it’s a massive undertaking…no one knows the exact number of notes that will trigger it [rate change].
I do know they want to get down to a billion notes.
I do not know how many dinar that actually represents…we do know their goal for the note count and that’s 1 billion.
The last time they were at a billion they were at $3.25
