The idea that the current IQD rate isn't indicative of it's true value gets tossed around a lot. It's often called an artificial rate or an artificial value. People often use these terms with the incorrect understanding that the rate is just a figure on an official piece of paper somewhere that some official person or entity has arbitrarily declared to be the current value.
This one misconception lies at the very heart of why people misunderstand todays value of the IQD vs. what is required for it to undergo any significant change in the future.
Test your understanding by answering the following 5 questions:
1) Assuming the IQD is to be upgraded to an international currency, can its value be changed just by the official person(s) in charge deciding he/she wants it to be something different?
2) Is the rate somehow adjusted by the tally of the assumed value of existing undeveloped natural resources held by Iraq?
3) When the IQD was devalued by the international community..was it done so by someone official simply declaring the value had been reduced?
4) Was the value of the IQD greatly reduced by printing and placing an excessively additional amount into circulation?
5) Is the value of the IQD determined by the amount in circulation vs. the amount of hard asset (gold and foreign currency) being held in reserve by the CBI?
If you answered YES to any of the above questions besides numbers 4 and 5...you've fallen victim to someone's intentional deception or unintentional misconception.
If you understand the meaning of questions 4 and 5 and the answers to them...you can figure out all by yourself exactly what is required for the IQD to undergo an appreciable change in value which could then be accepted by the international community.
If anyone tries to convince you otherwise, they are intentionally trying to mislead you, or they themselves are completely confused. In either case you would be doing yourself a huge favor by ignoring them, at least until such time as they can answer the above 5 questions correctly without exception or caveat.
Tariffs, HCL, AML, amnesty, who's in charge, who is yet to be prosecuted, the CBI selling gold for dinars, unexploited natural resources, China, economic summits, and yes not even the IMF will change the above facts. They remain constant and are in fact the very rules of the IMF.
A case in point, oil prices dropped drastically and Iraq began using it's reserves to bridge the gap between spending and income. What immediately happened to the value of the IQD after that? Exactly, it dropped in value. Why? Because the CBI's reserves were being reduced. I'm sorry if you believed the CBI was "giving away dinars" to meet a fictitious 2% compliance.
In light of these truths, there are 2 ways and 2 ways only that the individual value of the IQD will significantly increase AND be an international currency. They are:
1) The CBI undergoes a huge increase in reserves (gold and or foreign currency.)
2) A huge decrease in the amount of IQD in circulation is triggered (LOP).
Now revisit this truth. The IQD was artificially devalued by placing an excessive additional amount of it into circulation. Read that as many times as it takes to realize what is going to happen to cause it to "return to a reality rate." If you start mumbling about tariffs, HCL, IMF, blah blah and blah...stop and read it again. Rinse and repeat until you no longer mumble about tariffs, HCL, IMF, blah, blah, and blah.
Good luck!