In the past we have been given a diagram charting decades of rates for the dinar by the CBI. Seems they are targeting around $4.25 as a stable rate in the long run. But to get there, steps must be followed:
1. end the currency auctions and its corruption as is today.
2. delete the zeroes and launch the newer notes and coins to convert to the lower denominations;
3. revalue the dinar in-country by removing the zeros from the rate meaning That is a .000873 rate would become 87 cents. Of course, they want to get the dinar par or to exceed with the US dollar to start…They will want to make the dinar more desirable. The start may mean a provisional rate goal of .00100+ before starting then drop 3 decimal places to at least a 1.00.
4. monitor the economy for hyper-inflation for a couple of weeks or more
5. then reinstate the currency to the global currency exchanges and allow it to trade openly meaning FOREX (buying and selling). We do not go to the bank until this final step in the process happens…
Having said all this these steps could all happen very suddenly within a week or may take longer. It depends on the reaction of the market inside Iraq.