_ awilliams: Folks: $12.36 exchange rate of USD is merely the calculated rate by virtue of converting the IQD (Dinar) vs. the British Pound (GBP). IQD is pegged to the GBP on the RV (probably because the GBP is based upon fixed assets whereas the USD is not)
So, what this means if you are trying to understand how the rate translates to our USD rate, you have to look at the GBP/USD (British Pound vs. US Dollar)
As such, Okie and Bulldog apparently have been informed that the new adjusted GBP/USD rate will be in the neighborhood of $1.66. (meaning that 1 GBP is worth $1.66 USD) so this becomes a simple calculation of the IQD/GBP rate. In this case the
awilliams: expected GBP/IQD rate is 7.45. So 7.45 x 1.66 (GBP/USD rate) = $12.36 IQD/USD rate.