Kaperoni – Dinar Guru One of the most frustrating things is to watch the Central Bank of Iraq and its new governor learn the procedures they need to maintain the exchange rate. This seems to happen every time they get a new governor. Maintaining the spread is a balance between dinars in dollars. The CBI needs to make sure that they are fully liberalized to provide that foreign currency per IMF guidelines. It’s also a catch-22 of sorts because they don’t want to just spend all of their reserves to fulfill the demand when the majority of the demand are people manipulating the system for profit. The solution is to curb this corruption not reduce the foreign exchange. But Iraq seems to have an inability to do so. As a result we see the foreign exchange at the auctions continually going up. And when they reduce the currency available then the spread begins to climb.