oil prices stable ish ---- yes
gold price staying above $1,300/Oz and heading higher ---- I sure hope so
Iraq has plenty of both ---- well we know for sure they have a lot of oil, how much gold they actually have at the moment is anyones guess.
as for the rate --- 1c , 10c , 50c, $50 per dinar or even the current rate, it really doesnt matter to Iraq what the rate is life continues as normal, there are 120 factors that determine the value of a currency, everything from political stability to standard of healthcare, structure of the economy and population educational levels then the usual things like reserves, natural resources, workforce participation, interest rates, banking structure and policies, inflation rates and the volume of cash in the economy etc.
"on par with the neighbors" --- I've heard this one for years and there is absolutely no reason one country can value its currency at a higher rate just because another country close by is at a higher value relative to the dollar. thats like me saying well bob down the road who is a CEO of his own company just got a new mustang ..... I should have one too ,even though I work part time in pizza hut (I dont work in pizza hut lol) with todays crazy lending policies I probably could get the loan for it in this scenario but long-term it will destroy me just like if Iraq jumped the gun and set a rate too high based on a false belief in thier ability to maintain that rate or deserve it. As mentioned above the factors that affect the value of a currency cannot be overlooked or dismissed just because one might want to keep up with the jones's (or Muhammad's in this case) its just an ego thing. I do think some day it will be on par, now whether thats because the IQD increases in value or all out chaos engulfs the middle east and everyone else drops to Iraq's current value I don't know but time will tell.