Jeff
What they're doing is selling US dollars to pay for and fund imports coming into Iraq...What they've done with this new transfer system is they've made back end changes that are not visual...
What they've done...is transition so that they can allow their banks to do these international transfers...There's only so much they can do with banking reforms at this time until the rate physically changes.
Again, what they're doing is they're positioning the banks to...do foreign transfers with the US dollars...now instead of that money being sent directly from the central bank it's being routed and sent from the local banks within Iraq.
That prepares Iraq to be ready towards going international...