Iraqi Dinar Discussion Board

[Aerospace]

Here’s another link for you.
Bit of a compromise.
http://www.globalsecurity.org/military/library/report/crs/crs_iraq_economy.pdf
“the gross domestic product peaked at $53.9 billion in 1980 because of the oil boom, and fell by about one-half to $26.9 billion in 1989. GDP reached its low point in 1994 falling to $6.5 billion under the weight of economic sanctions.”

So in 1980… last time they really had that 3:1 rate everyone talked about. I’ll take the low figure of the TWO links I’ve provided… $54 Billion.
So they have increased M2 140,000%
And they have increased GDP about 90%
Still not quit “inline”
The $6 billion number you quote was in 1994… the dinar had already taken a beating by then.

http://www.globalsecurity.org/wmd/library/report/2004/isg-final-report/isg-final-report_vol1_rfp-anx-d.htm
Exchange rates are important during these transactions because they represent the linkage between one country and its partners in the global economy. Exchange rates affect the relative price of goods being traded (exports and imports), the valuation of assets, and the yield on those assets. The CBI pegged its official rate between $3 to 3.38 per dinar in the 1970s. The last official exchange rate of $3.11 per dinar was set in 1982. During the 1970s the official and market rates generally corresponded and by 1980 the country had $35 billion in foreign exchange reserves. Because of the war with Iran that figure had fallen to $2 billion by 1987. The currency depreciated rapidly in the unofficial market during the Iraq-Iran war and after the first Gulf War the pace of depreciation increased further. During 1997 to 2003, the exchange rate fluctuated between 1500 -2000ID per $1 and was fairly steady at about 1950 ID to $1 in recent years. Although the Regime did not alter the official exchange rate after 1983, it acknowledged the rate differential in 1999 by allowing state run banks to exchange hard currency at the rate of 2000 ID to $1