[via PDK] I had an interesting conversation with an Iraqi source this afternoon. They said that they are using local currency options in order to pull as much dinar off the streets as possible. Their foreign reserves have a lot of US dollars in them…They also have other currencies from around the region in their foreign currency reserves…so instead of using dinar in their currency auctions they are using those and letting people turn in their dinar for them…people are getting a better than normal exchange rate for them. [post 1 of 2….stay tuned]
