found this blurb on another forum ...but it brings up a nice point.....especially since the CBI did not run an auction today and did not set a rate(first time I ever seen that)
The fact of the matter is this ... while we have a lot of fun trying to guess the RV exchange rate ... the only folks that have any idea are those in the CBI and IMF. A lot of numbers have been tossed about but we really have only three definitive "hints" (as far as I'm aware):
1. the SafeDinar "oopsie" from last April of $5.26;
2. the Scheme Arrangement between Rafidain Bank and its creditors, where in Appendix 5 we can find the proposed exchange rate between Iraq and its creditors to be .3038 ... this is a RATIO, NOT an absolute (BTW, .3038 translates to $3.29163); and
3. the recent statements by al-Shabibi where he said the the GOI/CBI "aspire in the near future to the return of Iraqi dinar to what it was in the seventies and the beginning eighties against the dollar". (My data only goes back to 1985, but the exchange rate then was 3.24557 SDR ... which translates into $5.30 today , but it dropped in 1988 to 2.32407 SDR or $3.79655 in 9 April 08 USD.)
Only the IMF knows for sure.
