Kaperoni does the math

Kaperoni  

Article quote:  "Sales of the Central Bank, Sunday, 209 million dollars in an auction today, on the sale of foreign currencies, exchange rate stable at 1166 dinars per dollar." 

I would tend to believe the CBI spreadsheet over the media article. Still cannot understand why the media has not picked up on the 1182 yet.  

Very clear on the CBI the official rate is not 1166 anymore..."Auction price selling dinar / US$ 1182". 

Based on my calculations of 1182 + 13 dinars (what it was before 1179 - 1166 = 13 dinar) brings us to 1195 as the rate the 2% spread would be based off of.  2% of that is 1218. 

So as long as the CBI keeps the Market Rate below 1218 it seems to me we are in compliance.  Currently it is 1214 as reported.  It is interesting the CBI made this effective December 1st. 

So March 1st would be 90 days if it holds and falls within the timeline stated...

"Iraq that is due to the market during the first half of next year"   Maybe we need a countdown clock to March 1st.

Nice math, now show me the 2% in print as a requirement anywhere in the IMF documents.