20 JANUARY 2007, Page 16

Dinar party

From William Shawcross Sir: Richard Snailham (Letters, 13 January) is quite right that I typed the value of the Iraqi dinar incorrectly — my apologies. But, as I wrote, the dinar has continued to appreciate against the US dollar and, more significantly, against the Kuwaiti and Iranian currencies. This has happened despite the horrific violence and seems to show greater local and regional confidence in Iraq's future than many Western commentators display.

William Shawcross London W2