Iraqi Dinar Discussion Board

[FX35]

Not sure what is confusing.
Iraq reports
http://www.cbi.iq/documents/key_financial.xls
M1 which is 37.3 trillion
M2 which is 45.4 trillion
They also report
Deposits component of M2, it’s 23.6 Trillion

So, take M2 of 45.4 and subtract deposits 23.6 and your left with 21.8 trillion as the part of M2 that is not in deposits.
Interestingly enough, that is the same exact 21.8 Trillion number that Iraq reports as Currency Outside of Banks, which is described on the CBI website as currency put into circulation LESS vault cash.
They also list vault cash… which is 2.4 Trillion

So 21.8 outside of banks and 2.4 in vaults = 24.2 Trillion dinars.

Pretty much 25 Trillion, just like all the articles say.