Iraqi Dinar Discussion Board

[Aerospace]

Year/M2/Exchange Rate, 250 and 10,000 dinar notes

Lot of talk about Iraq not suffering from hyper inflation. Currently no, but in the 90’s and early 2000,s they did go through massive inflation.
This document also blows the dealer line of 30 cent exchange rates prior to the war right out of the water.
Those high exchange rates were back in the early eighties and were only kept on the books by Saddam’s fist.
In the IBOX the exchange rates for April 02 is shown as 2.53. Could a country with about 2.75 Trillion dinars in 250 and 10,000 dinar notes really have a an exchange rate of 2.53?

These are the true exchange rates as reported by the now free to speak CBI.

http://www.cbiraq.org/Binder4.pdf

Year.........M2............Exchange Rate ID/US$
91.............24.6B.......10
92.............43.9B.......21
93.............86.4B.......74
94.............238.9B......458
95........….705.1B......1674 Iraq starts printing 250 dinar notes (1)
96........….960.5B......1170
97........….1.03T........1471
98.........…1.35T........1620
99.............1.48T........1972
00.............1.72T........1930
01.............2.15T........1929
02.............3.01T........1957 Iraq starts printing 10,000 dinar notes (2)
03.............3.78T........1459 (3)

1.Starting in 95, by the end of 02 Iraq had issued 2.4 Trillion dinars in the form of 250 dinar notes.

2. Starting in Aug 02, in 5 months Iraq issued 239 billion dinars in the form of 10,000 dinar notes.

3. Had gone up to 3500, went down 1459 because people started hording the currency because of the invasion, currency speculators.

http://www.cbiraq.org/cbs7.htm
The Department of Research and Statistics was always the one to publish statistical information about various Iraqi economic activities. This put key information into the hands of researchers and economists for analysis and economic studies, to say nothing of the importance of formulating national monetary and fiscal policy, with benefit of the quarterly bulletins and the annual reports which the Central Bank of Iraq issued. However, the negative conditions that the country experienced and the harsh constraints on publishing any information that were imposed by the previous regime caused the Central Bank to halt publishing any information, thereby reducing its statistical and research activitie At present, with the end of those circumstances and with the desire of the Central Bank to have full transparency in publication, the environment has become conducive to the Central Bank’s conducting research and publishing relevant information in a timely manner.On this occasion, the Department of Research and Statistics is pleased to publish this Special Issue of the Statistical Bulletin of the Central Bank of Iraq, to provide information available for the period of 1991 through June 2003. This is the starting point for regular publication of the Quarterly Bulletin and the Annual Report of the economy of the new Iraq