Question: “Before the Iraq war, their exchange rate was $3.22 based almost solely on oil production. Add 20 years inflation, all seized corruption dinars destroyed, plus 40% new non-oil revenues. Why can’t IQD revalue near $5?” Because in the 80s, 90s Iraq’s money supply was in the billions. They started printing more currency in the late 90s and hyper inflation set in, the dinar tanked to 3000 to $1. Currently, there’s over 100 trillion new dinar in circulation so there can’t be a significant RV.
