The disappearance of 1.2 trillion dinars.. The Iraqi printed currency declined as the third largest decline recorded in 20 years

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The disappearance of 1.2 trillion dinars.. The Iraqi printed currency declined as the third largest decline recorded in 20 years

Based on data from the Central Bank of Iraq, it was determined through a historical analysis of the printed currency that the amount of currency decreased by 1.2 trillion dinars between November and December 2023, making it the third largest decrease in 20 years.

The entire quantity of “printed” currency in Iraq up to December 2023 was 101.4 trillion Iraqi dinars, according to statistics received by. This is less than the amount of currency that was in Iraq in November 2023, which was 102.6 trillion Iraqi dinars.

This indicates that there was a 1.2 trillion dinar decline in the amount of created money, which is said to have “disappeared.” The Central Bank of Iraq normally destroys this money in order to make up for it by printing more money.

examined previous data on the printing of money in Iraq and discovered that while destruction is the least common act, printing and money quantity exhibit a monthly rising trend. Additionally, the quantity of currency rarely falls.

According to the data, the biggest recorded drops in Iraqi currency since 2004 occurred between June and July 2014, when the amount dropped to 2 trillion dinars. Other notable drops included those that occurred between November and December 2015, when the amount dropped to 1.4 trillion dinars, and between May and June 2021, when the amount dropped to 1.4 trillion dinars.

The most recent decrease, which occurred between December and November of 2023, represents the third highest monthly decrease in the quantity of money created since 2004, or 20 years ago, and totals 1.2 trillion dinars. It also ranks among just six comparable drops over the previous 20 years, totaling over one trillion dinars in a single month.