Mnt Goat
...the IMF fully intends to repeg the IQD to a basket of currencies once they revalue it and turn it back on FOREX (...this is called a reinstatement...).
It will initially be a FREE FLOAT driven by market fluctuations however it will be monitored and my CBI contact has told me they will cap it at a level to control the initial massive swings, if needed.
Then over a period, the rate is expected to settle down to its nominal rate. I am told this could be about $3.85ish.
The then CBI director in 2011 Dr. Shabibi told his audience in a news media conference on the Iraqi economy that the dinar could sustain a fluctuation as high as $16 USD...
I am told that the IMF will use the cap at about $9 - $11 to prevent wild swings out of control that could potentially hurt the basket.
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