Originally Posted by
wciappetta
Add to it this letter on intent remark from 2004 [thanks Darrock]and the picture becomes remarkably clear:
Iraq—Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding
Baghdad, September 24, 2004
II. Definitions
3. For purposes of monitoring under the program, a program exchange rate will be used. This program exchange rate will be the U.S. dollar/Iraqi dinar exchange rate on or about August 31, 2004, as reported by the CBI (ID 1,460 per U.S. dollar).