Sandy Ingram
Iraq manages its exchange rate through a currency auction system. Every weekday the Central Bank of Iraq hold auctions where it sells US dollars, which come from Iraq's oil revenues, to licensed banks and money exchangers.
This is how it regulates the IQD to US dollar exchange rate and how importers access foreign currency.. .
The Iraqi dinar doesn't have options, futures contracts or other financial products traded on global forex exchanges like the Chicago Mercantile Exchange. This makes it inaccessible to institutional investors who might be looking for hedging or large scale speculation.