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CBI Daily Currency Auction (Double post) - Sunday, 31 August 2014


ronscarpa
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Currency Auctions

Announcement No. (2757)

The latest daily currency auction was held in the Central Bank of Iraq on Saturday, the 30-08-2014 with

the post on Sunday, the 31-08-2014. the-results were as follows:

DETAILS NOTES

Number of banks 12

Auction price selling dinar / US$ 1166

Auction price buying dinar / US$ -----

Amount sold at auction price (US$) 100,684,000

Amount purchased at Auction price (US$) -----

Total offers for buying (US$) 100,684,000

Total offers for selling (US$) -----

Announcement No. (2758)

The latest daily currency auction was held in the Central Bank of Iraq on Sunday, the 31-08-2014.

the results were as follows:

DETAILS NOTES

Number of banks 19

Auction price selling dinar / US$ 1166

Auction price buying dinar / US$ -----

Amount sold at auction price (US$) 192,425,000

Amount purchased at Auction price (US$) -----

Total offers for buying (US$) 192,425,000

Total offers for selling (US$) -----

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Decline in central bank sales and the value of foreign remittances amounted to more than 55 million dollars
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 BAGHDAD - Iraq Press - August 31 / August announced a source familiar with, that the value of foreign remittances in the central bank auction on Sunday, amounted to 55 million and 374 000 dollars and the exchange rate was 1187 dinars per dollar, including the commission of the Iraqi Central Bank, amounting to 21 dinars for each dollars, with the participation of 12 banks did not make any of them contracts to sell the dollar.

 

 

 

The source pointed out that "the Iraqi central bank sales of dollar fell to 100 000 684 dollars at auction, Sunday, compared with 193 million and 850 thousand dollars had been recorded at an auction the previous day, and a stable exchange rate at 1166 dinars per dollar."

 

 

 

He said, "The special bulletin ERA today showed that the total demand for the dollar distributed by 45.31 million dollars in cash, and the exchange rate was 1190 dinars dinars per dollar, including the commission and the Bank for cash sales, amounting to 24 dinars per dollar. Admiral ended

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2751/2752    24-Aug 1,212 1,166 309,143 92,005 217,138
2753         25-Aug 1,212 1,166 198,355 64,800 133,555
2754         26-Aug 1,203 1,166 225,147 88,775 136,372
2755         27-Aug 1,201 1,166 197,179 63,055 134,124
2756         28-Aug 1,201 1,166 193,850 78,580 115,270
             29-Aug NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION
             30-Aug NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION
2757/2758    31-Aug 1,201 1,166 293,109 97,530 195,579

 

Since the last double auction, you can see that the Market Price (in red) is below the 2%.

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djgabrielie, You say the market price is below 2%... 2% of what?. 

 

1166 plus 2% is 1189... It is actually closer to 3% above the CBI rate.

 

Please specify what you mean...

 

Thank you

2% of what the market rate was in 2010./2011 As high/low based on your perspective as 1195, At the beginning of 2011 it was 1190. The market rate has been changing since I have been following it in 2010.  See for yourself. I also posted the spreadsheet a week ago.

 

http://www.cbi.iq/documents/CBI_FOREIGN_EXCHANGE_AUCTIONS.pdf

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Thnks guys.... that's 2 different explanations...  Can you provide any documentation on this?

 

Just trying to get to some facts, not just what some gurus have repeated.

 

Where does it say the market rate has to be below 2%?  Is this from the CBI or the IMF?

 

Then where does it explain the breakdown for the 2%

 

Just saying...not trying to be a pest.

 

Our readers would be better off knowing that this is from source material, not rehash from someones cc.

 

Thanks

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