On the other hand... Iraq had a decent rate back around 1980, they at that time had a money supply of about 30 BILLION.
It is now 28 years later. The Iraq-Iran war destroyed the value of the Iraqi dinar, the first gulf war then destroyed it further, sanctions then added to the decline. All the while this was happening Saddam was running the printing presses and increasing the money supply into the TRILLIONS and it now stands at close to 40 TRILLION. Saddam dictated that the official rate remain 3:1 but nobody got that rate.
The Iraqi dinar started plunging in value in the early eighties.
So... to sum it up...
Kuwait, starts with 400 million and eight months later still has 400 million and that explains why they had the same rate.
Iraq starts with 30 billion and 28 years later has 40 TRILLION. That's over 1000 times more currency and explains perfectly why their exchange rate is now over 1000:1.
So yes, you have fallen for a scam to believe that Iraq is somehow like Kuwait.
All the Iraq currency under Saddam was destroyed and a new currency was printed, yes its in the trillions as well but the new Iraqi dinar has nothing to do with Saddam and his printing press
