Below there is what could be looked at is a move to follow the world outlook on the price of oil as a standard against a exchange rate or IQD?
I didn't highlight the program exchange rate or the international or world oil price it was like that in the PDF.
3. For purposes of monitoring under the program, a
program exchange rate will be
used. This program exchange rate will be set at ID 1,170 per U.S. dollar. The program
exchange rate will be used to convert into Iraqi dinars the U.S. dollar value of all CBI foreign
assets and liabilities denominated in U.S. dollars, as required. For CBI assets and liabilities
denominated in SDRs and in foreign currencies other than the U.S. dollar, they will be
converted in U.S. dollars at their respective SDR-exchange rates prevailing as of
December 31, 2009, as published on the IMF’s website.
4. For the purpose of this program, the international or world oil price is understood
to be the Average Petroleum Sport Price (APSP) used in the IMF’s World Economic Outlook
(WEO), which is the simple average of UK Brent, Dubai Fateh, and West Texas Intermediate