[Iraq boots-on-the-ground report] OMAR: In the country we will drop the zeros and the lower notes will be introduced and the 3 zero notes will coexist at the same time at the same rate. All of it will be dropped off the exchange rate and then as it’s pegged to a basket we will see our true rate. FRANK: Yes because once it’s in the basket that’s an RI. Then it will be an RV in the basket to reach the real effective exchange rate. Then it ain’t 1 to 1 because you can’t touch the dollar. So you coming out at $3.22…? I suggest to cap it at $4.25…
