Iraq considers printing zero-removed banknotes in early 2027

BAGHDAD, Iraq — The Iraqi government could begin printing new banknotes without trailing zeros in early 2027, an unnamed official at the Prime Minister's Office told The Media Line, adding that the proposal is under discussion at the Prime Minister's Council and a final decision could come in the near term. If approved, the new notes would enter circulation at the start of 2027, with the exchange of older denominations continuing throughout the year, the official said. The plan to remove zeros from the Iraqi dinar has been raised periodically over the past decade as a way to simplify transactions and restore public confidence in the currency. The Central Bank of Iraq has previously said it received no government decision on removing zeros, stressing that any such step would require completing the necessary administrative and legal procedures before implementation. No further details on the timeline or the denominations affected were immediately available.