With the anticipated re-pricing of the dinar one of the items we watch for is for the CBI to reveal how they intend to peg their currency, meaning to WHAT will it be compared to in expressing it's value going forward.
One thing has been apparent for a while now is that they will NOT continue to relate (peg) their currency only to the USD. It has been speculated that some assortment of currencies along with gold will become their new standard.
A totally separate discussion would be regarding what they will hold in reserves to support the dinar, i.e. what will be kept in their vaults. Tho this is a separate discussion from their peg (their backing basket), it is also logical that the two will be intertwined in many ways. If, for example, they intend to decrease their reserve holdings in USD as they replace it with other (less volatile) fiat currencies then it follows that they would not place the USD as the primary marker for their currencies daily value on the open market.
This discussion gets confusing so let me stop and simply point out that yesterday we saw two articles that make it clear that they plan to diversify their holdings and IMO they are also giving us a glimpse into their
plans for the re-pricing of the dinar and what they will be using to establish it's relative worth...it's peg.
An important observation here might be that the CBI appears to have been doing a lot of deep thinking this past week regarding their currency. Especially given that they were supposedly closed for business. I speculate that they were in fact not taking "beach time" but had their movers and shakers hard at work, sleeves rolled up, putting ink to paper....making some big decisions. I was a bit surprised that the visit by CBI Gov. Turki to Washington was even made known to us and it now seems clear that when the guy got back home? He had a checklist of things to do.
When the US Gov. shutdown was proclaimed on Oct1 it was apparent that Jack Lew and his worker bees were quite active doing "stuff". In like manner, when the CBI was shutdown last week it is more than apparent that the place was actually a bee hive of activity.
IMO this adds significantly to the conclusion that they intend to soon drop three zeros off of their notes AND also drop three zeros off of the exchange rate of the dinar.
If this conclusion proves wrong? It certainly strikes me as odd that THESE two articles are EXACTLY the type of discussions that they would be expected to have in preparation for this very event... 
And a final thought would be that not only have they been nailing down these big ticket items but perhaps more importantly? They are telling us about it......
note: added [brackets] are words inserted for clarity. Delete them as you wish....
Central Bank: We strive for a balanced ratio of gold with hard currency reserves
10/19/2013 - 11:25
Alsumaria News / Baghdad
Central Bank of Iraq, on Saturday, [spoke] on his quest to find a balanced ratio of gold with hard currency reserves, considering that whenever the reserve size [of gold] increases [proportionately] less than the contribution of other components [the ratio becomes disproportionate to what is needed].
The governor of the central bank and agency Abdul Basit [Turki] Abdul Samad said in an interview for "Alsumaria News", "The Bank seeks to [maintain a] balanced ratio of gold [as] compared to reserves of hard currency from the currency," noting that "the high [aka... increases in] bank reserves of hard currency [thus] leads to low[er] [proportionate holdings in] gold and we are working to increase procurement to maintain a balanced ratio of gold [to cash]."
He added that Abdul Samad that "the components of the reserve[s] for Iraq consists of transactions exist in key markets which include the dollar, the euro and [the English] lb Englishman then [finally, IMF instruments of] special drawing rights of gold," stressing that "whenever [our cash position increases] grows up, the proportion of the contribution of other components [mainly gold, becomes] less [when expressed as a ratio and] therefore [we intend to] raise other ingredients [as needed] to keep the ratio [within a tolerance] of 3 to 5%. "
The International Monetary Fund (IMF) confirmed, in December 2012, that Iraq had boosted its gold reserves to reach more than 31 tons, noting that Iraq had bought 23.9 tons of gold in the month of August of the same year.
It is noteworthy that the Iraqi Central Bank was established as an independent bank under its law issued on the sixth of March of the year 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and being sessions daily for buying and selling currencies
note: there is language below that directly implies (speaks to) the new backing basket or pegging of the dinar.
IMO...not a small thing...
Economic center demanding the government to unlink the Iraqi dinar to the dollar
BAGHDAD - Iraq Presse -19 October / October: Student Government Economic Media Center [There is a pressing] need to work on the "disengagement of the Iraqi dinar to the dollar," noting that "the current data do not indicate seriously special programs to find alternatives to the parallel development of the oil."
The head of the center Dergham Mohammed Ali in a statement received / Iraq Press / Saturday, a copy of it, "Despite the end of the crisis, shutdown the government the U.S., but there is [yet] another crisis threatening the U.S. economy [and that] is the high ceiling of the government's debt the U.S. to record levels reached to $ 17 trillion, "noting that" the U.S. economy is threatened by the new economic crises threaten the dollar zone. "
He called Muhammad Ali the Iraqi government to "study to find alternatives to the dollar in the reserves of Iraq's foreign currency basket includes Asian currencies [that are considered] more stable, such as the Chinese yuan and the Japanese yen as well as the euro and the British pound and other currencies are stabilizing higher [more stable] than the dollar," noting that "the dollar zone is exposed to the risk of real economic not experienced since the Great Depression in the twenties of the last century. "
The Muhammad Ali that "currency auction conducted by the Central Bank of Iraq will be the beginning of the introduction of these currencies and dealing in them and traded through the Iraqi market, in addition to" put Iraq to the idea of disengagement from oil exports in dollars meetings of the Petroleum Exporting Countries OPEC to protect oil prices [that are currently] vulnerable to [downward] price [fluctuations in the] dollar universe States United's largest importer of crude oil in the world and any economic downturn سيصيبها the greatly reduce [the US volume/demand for] imported crude oil. "
Muhammad Ali stressed the need to "move in this direction, considering that current data do not indicate seriously special programs to find alternatives to the parallel development of oil to replace it in the budget for Iraq to protect the Iraqi economy from price fluctuations in the global oil market." Q ended
http://www.alsumaria.tv/news/84598/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%86%D8%B3%D8%B9%D9%89-%D9%84%D9%86%D8%B3%D8%A8%D8%A9-%D9%85%D8%AA%D9%88%D8%A7%D8%B2%D9%86%D8%A9-%D9%85%D9%86-%D8%A7%D9%84%D8%B0%D9%87/ar
http://www.iraqpressagency.com/?p=15669&lang=ar
Statistics: Posted by Memphis — October 20th, 2013, 5:00pm GMT