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Lower Denoms

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Post by Ssmith on Mon Oct 06, 2014 3:14 pm

Tony says Iraq is going to RV in the $3 range, similar to Kuwait.  So should there be currency in order to make change?  Seems like no substantial RV until lower denoms are printed.  Here is what Kuwait has:

Introduction

The issue and circulation of currency notes and coins is subject to the provisions of law (32) of 1968 concerning currency, the Central Bank of Kuwait (CBK) and the organization of the banking business in the country. Accordingly, the issuing of Kuwaiti currency is the State's exclusive privilege, solely exercised by CBK.

The unit of currency in Kuwait is the Kuwaiti Dinar (KD), divided into one thousand Fils.

Currency notes are issued by the CBK in the following denominations: quarter Dinar, half Dinar, one Dinar, five Dinars, ten Dinars and twenty Dinars.

There have been six issues of Kuwaiti currency notes since the introduction of the State's legal tender in 1961. The sixth issue was released into circulation on June 29, 2014. The new banknotes was developed in an innovative manner that guarantees an excellent quality, security measures and aesthetic appeal which includes many of Kuwait’s accomplishments, its citizens’ uplifting spirit and other national aspects.
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Post by Kevind53 on Mon Oct 06, 2014 3:27 pm

There were articles a while back talking about printing/minting the smaller denominations. Whether that ever actually happened or not is anybody's guess.

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Post by livingintheloop69 on Mon Nov 10, 2014 5:34 pm

They have coins in 25 50 and 100 now

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Post by Kevind53 on Mon Nov 10, 2014 5:41 pm

Not according to the CBI.... they have 100 and 25 dinar coins only and they are not in circulation.

http://cbi.iq/index.php?pid=Banknotes

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