The mass majority of the population is holding all of their large notes and will not deposit them in the banks because they will lose money and they believe that the banks will run out of cash. Due to inflationary concerns they can’t print any more large notes. The CBI has to revalue what they have so the population will redeem their large notes so the CBI can take them out of circulation and install the smaller notes. This information comes from my employees “uncle” who runs a currency exchange In Baghdad…What ever they decide is going to be rough going for a while but it will settle out.
