Sorry for the delay in my reply, Lee.

I've been poking around the Central Bank of Iraq Website and downloaded their "C.B.I. Foreign Exchange Auctions" .pdf file. This document provides a history of the Iraqi Dinar exchange activity since Jan. 1, 2004.

What strikes me is how little fluctuation there was in the auction price of the Dinar between May 2004 and Oct. 19, 2006. Then, as I have noted, the value of the Dinar vs. the USD has consistently increased since Oct. 22, 2006. (The rate is now 1275.55 Dinars for a USD.)

I have also noticed the very large volume of currency trading between April 17, 2006, and April 30, 2006. Is this an error--three zeros too many for the volume figures?

I could go on about Iraq's oil production and oil revenues, but I'll leave that to another discussion.