The new 50K note…Iraq has been talking about this and educating the people for the past 6 months or so that this was only a temporary measure to stop the massive counterfeiting of the 25K and 10K notes that ISIS and others have produced.
The citizens understand that once the value changes and the three zeros are dropped, then they will be turning in these notes for the final more valuable notes.
This new note from what we have been told is extremely hard to counterfeit and will stop that dead in its tracks.
Excellent move as it will draw in all of the 25K and 10K notes inside Iraq and this has nothing with the good notes outside of Iraq that we hold.
Once Mosul is fully under control, I see this changing value fairly quickly, most likely when the 2016 budget is officially put into place.
Excellent progress and the end is very near.
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