CBI Rate displayed as IQD / USD --- Remember to take the inverse (1/x)
As the time nears (hopefully) for an updated rate on the CBI (Buy / Sell), we need to remember the CBI shows IQD / USD. For example, if the rate comes back at 0.2500 on the Buy rate, then we need to take the inverse to get the USD / IQD rate (in this example 1 / .25 = $4.00).
I am worried people will see the 0.2500, freak out, and forget to take the inverse. We always think of the rate in terms of USD, and have speculated anything from $.86 to $8.60. But this is not the amount we will see on the CBI.
So, in other words... the LOWER the number on the CBI Buy rate -- the better for us.