Question A total of $77,907,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar.

[valtar]

What does this mean? Are they buying the $ or selling the $.

 

Atotal of $77,907,000 was sold at a price of 1166 IQD per dollar

 

Thanks

[dontlop]

The best I can come up with is that amount of dollars worth of dinar was bought at auction at 1166 dinars per dollar

.

The govt needs dinar to pay its employees and contractors and the cbi manages the govts money and supply the dinar

Edited January 27, 2015 by dontlop

[dontlop]

Ya got to remember the govt deposits petro dollars from oil sales in the cbi and the govt makes payroll in dinar and pays its local contractors in dinar so the cbi needs dinar to supply the govt so they buy the dinar back from the banks after the people spend them and the merchants deposit them into their accounts and the merchants need dollars to buy imports to sell to the public it all works out

[rulesforrebels]

1164/1166 is always where the acutions go off, almost never changes. The $77,907,000 is the amount of Dinar that was auctioned off and bought by banks who participate in the auctions.

[kennyc]

Correction. The auction today was 74,993,000. The limit is 75 mil. 20 banks were involved.