Iraqi Dinar Discussion Board

[Botat]

Looks inviting.



Amongst other things, the submission said Iraq's central bank planned to create a foreign exchange market outside the framework of regular dollar auctions now conducted by the bank. The bank uses the auctions to set the exchange rate, which has been held at 1,170 dinars per dollar for many months.

"To improve the functioning of foreign exchange auctions, we plan to develop organized exchange markets outside the central bank, including an interbank foreign exchange market," it said.

"Our aim is to establish a forward market in Iraqi dinars in the near future."


http://sg.news.yahoo.com/rtrs/20100311/tbs-iraq-economy-imf-955c2a1.html