Iraq denies rumor of new 50,000-dinar note

According to an article in Alsabaah Daily, the Central Bank of Iraq is planning to issue a 50,000-dinar (US$42.77) note to facilitate transactions. It plans to restart the issue of coins too. The new issues will not affect the redenomination plans, which will take more than one year to be implemented.

The plans mentioned above were denied in an article dated 11 November 2011 on The Currency Newshound, in which an anonymous source states that the bank is actually planning to redenominate its currency by removing three zeros from the dinar.

Courtesy of Mosab K Ibrahim.