Another concern that has emerged pertains to the deliberate devaluation of the Iraqi dinar, particularly in light of discussions regarding the potential increase in the value of the dollar within Iraq. It is widely understood that such an increase would undermine the dinar, leading to its devaluation. Therefore, the question arises: did the Central Bank of Iraq (CBI) truly devalue the dinar by announcing a new official rate of approximately 1650, up from 1320, as many economists had predicted? Or is this merely speculation and hearsay? Article: “THE GOVERNMENT SETTLES THE DEBATE OVER THE DOLLAR EXCHANGE RATE.” Quote: “there is no intention to raise the exchange rate of the dollar against the Iraqi dinar.” …In a recent article, we learn from the CBI that it did NOT devalue the dinar and consequently did not alter the official rate.
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