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The central bank issued banknotes fifty thousand Dinars category”

Once again we see that the plan is still in place, although delayed. We had expected to see this in August as I recall. Coming out now is just about consistent with our understanding of Iraq’s delayed timing schedule.

This confirms for me, in spades, that we will see the withdrawal of the 25000 notes during the next month or so, followed by a gradual reduction in the money supply total itself (value, as well as number of notes in circulation), thus setting up the scenario required to release the dinar to a free float.

I would not even be surprised to see a 100000 note come out within the next 45 days.  All in all this is turning out to be a very good week.

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