I'm trying to understand your thinking here.
So you, or an Iraqi walks into a bank... hands them a stack of 25K notes. The bank gives you back a stack of lower denoms. The bank then takes them to the CBI for destruction. They give the CBI the stack of 25Ks.
Now what?
Do you think they don't have to give the bank something for those 25Ks? Every bank would go bust if that's true.
Dow Jones Newswire: A current 25,000 Iraqi dinar banknote will become IQD25, and a dollar will equal only 1.17 dinars.