Central bank sales schedule for the auction currency today

[yota691]

15 hours ago, Wiljor said:

wow look at all that chunky money 

All that money is being destroyed in that picture, dip in red dye...

[gregp]

More proof of lower denoms coming out soon.

[Wiljor]

2 hours ago, yota691 said:

All that money is being destroyed in that picture, dip in red dye...

 

Yes Yota and thanks , I believe their are millions of bills being ready for destruction and as gregp has stated, "perhaps room for lower denoms"  

 

[gregp]

20 minutes ago, Wiljor said:

 

Yes Yota and thanks , I believe their are millions of bills being ready for destruction and as gregp has stated, "perhaps room for lower denoms"  

 

 

I agree Wiljor!

[gregp]

3 hours ago, yota691 said:

All that money is being destroyed in that picture, dip in red dye...

 

I'm feeling like we are just a week or weeks away. 

Thanks for all your hard work, Master Yota!

[NEPatriotsFan1]

I do hope you're right greg, I'm going on vakay 28th would love to not have to stress about coming back

[Synopsis]

DISCLAIMER: THE FOLLOWING CALCULATIONS ARE FOR SCENARIO ESTIMATES ONLY!!!!

 

Say the currency auctions are 150 million USD per day. That is 750 million USD per 5 day auction week. If I understand correctly, the auctions are run at 1,190 IQD = 1 USD. So.........

 

750 million USD/week x 1,190 IQD/USD = 892.5 billion IQD/week.

 

Say they completely destroyed all the larger denomination IQD brought in for 26 weeks and the currency auctions only exchanged USD for the larger denomination IQD, then..........

 

892.5 billion IQD/week x 26 weeks = 23.205 trillion IQD!

 

If they wanted to reduce the total amount entire denominations on the Iraqi streets by 2/3rds, then the original amount (in this scenario only) is 34.8075 trillion IQD with 11.6025 trillion IQD remaining on the streets.

 

There are nominally 38 million Iraqis in Iraq. So.........................

 

11.605 trillion IQD / 38 million people = 305,329 IQD for every man, woman, and child in Iraq on average.

 

If (I say if) the IQD revalues at 1 IQD = 0 1 USD, then the average equivalent is...................

 

305,329 IQD x 0.1 USD/IQD = 30,529 USD for every man, woman and child in Iraq on average.

 

To put this in perspective for today's market rate for the Iraqi citizen on the street with an exchange of nominally 1,250 IQD = 1 USD, then......................

 

30,529 USD x 1,250 IQD/USD = 38,166,118 IQD for every man, woman, and child in Iraq on average.

 

With the loans being made available to the Iraqi citizen meeting the appropriate age, etc criterion of nominally 50 million IQD, I wonder what implications this scenario provides for the revaluation of the IQD with regard to the Iraqi citizens paying off all or a portion of this loan then giving the banks a tremendous amount of liquidity for investment?

 

Well, OK, just a scenario and food for thought!!!!

 

Go Moola Nova!

 

 

[RJ45]

1 hour ago, Synopsis said:

DISCLAIMER: THE FOLLOWING CALCULATIONS ARE FOR SCENARIO ESTIMATES ONLY!!!!

 

Say the currency auctions are 150 million USD per day. That is 750 million USD per 5 day auction week. If I understand correctly, the auctions are run at 1,190 IQD = 1 USD. So.........

 

750 million USD/week x 1,190 IQD/USD = 892.5 billion IQD/week.

 

Say they completely destroyed all the larger denomination IQD brought in for 26 weeks and the currency auctions only exchanged USD for the larger denomination IQD, then..........

 

892.5 billion IQD/week x 26 weeks = 23.205 trillion IQD!

 

If they wanted to reduce the total amount entire denominations on the Iraqi streets by 2/3rds, then the original amount (in this scenario only) is 34.8075 trillion IQD with 11.6025 trillion IQD remaining on the streets.

 

There are nominally 38 million Iraqis in Iraq. So.........................

 

11.605 trillion IQD / 38 million people = 305,329 IQD for every man, woman, and child in Iraq on average.

 

If (I say if) the IQD revalues at 1 IQD = 0 1 USD, then the average equivalent is...................

 

305,329 IQD x 0.1 USD/IQD = 30,529 USD for every man, woman and child in Iraq on average.

 

To put this in perspective for today's market rate for the Iraqi citizen on the street with an exchange of nominally 1,250 IQD = 1 USD, then......................

 

30,529 USD x 1,250 IQD/USD = 38,166,118 IQD for every man, woman, and child in Iraq on average.

 

With the loans being made available to the Iraqi citizen meeting the appropriate age, etc criterion of nominally 50 million IQD, I wonder what implications this scenario provides for the revaluation of the IQD with regard to the Iraqi citizens paying off all or a portion of this loan then giving the banks a tremendous amount of liquidity for investment?

 

Well, OK, just a scenario and food for thought!!!!

 

Go Moola Nova!

 

 

 

Perhaps they will be adjusting the interest rates to account for this? Otherwise it might be incredibly difficult for those loans not to default, especially in the early days after any RV.

[Synopsis]

16 minutes ago, RJ45 said:

 

Perhaps they will be adjusting the interest rates to account for this? Otherwise it might be incredibly difficult for those loans not to default, especially in the early days after any RV.

 

Could Be, RJ45!

 

As Iraq progresses on their economic reform plan implementation, no telling what will appear in the articles as well as what actually happens as Iraq begins rebuilding in their devastated areas and begins kicking in their economy not only in the crude oil related sector but other economic sectors either dormant through the Saddam Hussein until now or creating new economic sectors based on Iraqi natural resources on Iraqi soil.

 

Go Moola Nova!

[idplzr]

Synopsis, how foe electronic IQD factor in? They also have qi cards 

[Synopsis]

1 hour ago, idplzr said:

Synopsis, how foe electronic IQD factor in? They also have qi cards 

 

 I am Sorry, Sir, and I hate spell checker/corrector. Could you reply with what you meant to say by "foe". Sorry if I am a little dense right now.

 

The Best Of Your Evening To You, IdPlzr! 

[Jaygo]

58 minutes ago, Synopsis said:

 

 I am Sorry, Sir, and I hate spell checker/corrector. Could you reply with what you meant to say by "foe". Sorry if I am a little dense right now.

 

The Best Of Your Evening To You, IdPlzr! 

"Foe" is "does"...... you're welcome!!! 🤗

[mr.unlikely]

Synopsis, I'm pretty sure that inside Iraq, if the CBI makes a significant adjustment to the exchange rate, lower denominations will be put out in a note swap type of arrangement, like a 25 note for a 25000 note. I believe it will be a more or less neutral event in country. What the Iraqi people will get is purchasing power. Foreign investors will reap the big reward ( notes honored at face value ) for a predetermined period, most likely 10 years. It wouldn't work if every Iraqi with a first full of dinar would be rich. 

[GregHi]

22 hours ago, yota691 said:

All that money is being destroyed in that picture, dip in red dye...

Yes, but if you look close, it looks like they are 250 bills that are the old Sadam currency. The current 250s don't have a guys picture on them. My guess is that this is a real old stock photo of them destroying old sadam currency. JMO

[Synopsis]

17 hours ago, idplzr said:

Synopsis, how foe electronic IQD factor in? They also have qi cards 

 

I wonder about the modern electronic implications as well to include the QI cards. I suspect a key entity like the CBI could manipulate these values at a chosen instance electronically while simultaneously implementing the physical cash conversion plan to the lower denominations.

 

9 hours ago, mr.unlikely said:

Synopsis, I'm pretty sure that inside Iraq, if the CBI makes a significant adjustment to the exchange rate, lower denominations will be put out in a note swap type of arrangement, like a 25 note for a 25000 note. I believe it will be a more or less neutral event in country. What the Iraqi people will get is purchasing power. Foreign investors will reap the big reward ( notes honored at face value ) for a predetermined period, most likely 10 years. It wouldn't work if every Iraqi with a first full of dinar would be rich. 

 

I think this is one viable option Mr.Unlikely! I suspect a very, very small group of very intelligent and capable people have a plan (whatever it is) to make this conversion work relatively smoothly to avert mass Iraqi uprising/uproar.

 

Go Moola Nova!

[coorslite21]

The over sized bills with the red dye appear to be 250's......is that odd to any one else?........both the size and denomination?

[mally2]

23 minutes ago, coorslite21 said:

The over sized bills with the red dye appear to be 250's......is that odd to any one else?........both the size and denomination?

 

Its a very old picture. These are the old 250 Saddam notes being collected for destruction. 

[yota691]

The results of the foreign currency sale window for Monday, July 24, 2017, which will be issued on Sunday, July 23, 2017

 

  

 July 23, 2017

The results of the foreign currency sale window for Monday, July 24, 2017, which will be issued on Sunday, July 23, 2017

 

Announcement No. (3488)

The opening of the daily sale and purchase of foreign currency in the Central Bank of Iraq on Monday 24/7-2017 and executed on Sunday, 23 - 7-2017 and the results are as follows:  

 

the details		Notes
Number of Banks		38
Number of financial transfer companies		10
The amount sold by the bank at the auction price - $		160,731,631
The amount purchased by the bank at the auction price - $		-----
Total Buy Offers - USD		160,731,631
Total Sell Offers - USD		----

Note that:

• The sale price of the amounts transferred to the accounts of banks abroad (1190) dinars per dollar.
• Cash sale price (1190) dinars.

 

* Schedule of sales of the Central Bank of Iraq for foreign currency (amounts in thousands of dollars) on Monday 24-7-2017 and implemented on Sunday, 23-7-2017

[SocalDinar]

Central Bank of Iraq Auctions $160,731,631 on 23 July 2017

 

 http://www.iraqinews.com/features/central-bank-of-iraq-auctions-160731631-on-23-july-2017/

Jul 23, 2017, 7:30 pm

 

 

 

 

 

 

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Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on July 23 registered $160,731,631 in sales, a -2.45% volume decline from the US $164,764,354 sold by Iraqi Dinar, credit and transfer at the previous auction held on July 20.

The latest auction was attended by 38 banks and 10 remittance companies. 2 fewer volume of institutions attended the auction held on July 23 compared to the previous auction.
Data for the July 23 auction was made public by CBI Announcement Number 3488.

Dollar sales in the in the period January 1, 2017 to July 23, 2017 saw an increase of 0.13% compared to the sales of US $13.9 billion in the same period in 2016. The total amount of US currency sold by CBI in the calendar year 2016 was US $14.55 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to July 2017, sales of US dollars averaged US $1.77 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Year	Month	US dollar sales in billions	Increase/(decrease) compared to the previous month
2016	January	2	–
2016	February	2.09	4%
2016	March	1.95	-7%
2016	April	1.94	-0%
2016	May	2.09	8%
2016	June	1.8	-14%
2016	December	0.4	-78%
2017	January	2.2	450%
2017	February	2	-9%
2017	March	2.1	5%
2017	April	1.8	-14%
2017	May	2.3	28%
2017	June	0.6	-74%
2017	July	1.5	150%

[1lucdog]

http://www.iraqinews.com/business-iraqi-dinar/central-bank-of-iraq-auctions-160731631-on-23-july-2017/

[yota691]

Results of the foreign currency sale window on Tuesday 25-7-2017, which will be issued on Monday, 24-7-2017

 

 July 24, 2017

Results of the foreign currency sale window on Tuesday 25-7-2017, which will be issued on Monday, 24-7-2017

 

Advertisement No (3489)

The opening of the daily sale and purchase of foreign currency in the Central Bank of Iraq on Tuesday, 25-7-2017, which was carried out on Monday 24-7-2017, the results were as follows:  

 

the details		Notes
Number of Banks		41
Number of financial transfer companies		10
The amount sold by the bank at the auction price - $		160,585,100
The amount purchased by the bank at the auction price - $		-----
Total Buy Offers - USD		160,585,100
Total Sell Offers - USD		----

Note that:

• The sale price of the amounts transferred to the accounts of banks abroad (1190) dinars per dollar.
• Cash sale price (1190) dinars.

 

* Schedule of sales of the Central Bank of Iraq for foreign currency (amounts in thousands of dollars) on Tuesday 25-7-2017 and implemented on Monday 24-7-2017

[SocalDinar]

Central Bank of Iraq Auctions $160,585,100 on 24 July 2017

 

 

http://www.iraqinews.com/features/central-bank-of-iraq-auctions-160585100-on-24-july-2017/

Jul 24, 2017, 4:00 pm

 

 

 

 

 

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Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on July 24 registered $160,585,100 in sales, a -0.09% volume decline from the US $160,731,631 sold by Iraqi Dinar, credit and transfer at the previous auction held on July 23.

The latest auction was attended by 41 banks and 10 remittance companies. 3 more volume of institutions attended the auction held on July 24 compared to the previous auction.
Data for the July 24 auction was made public by CBI Announcement Number 3489.

Dollar sales in the in the period January 1, 2017 to July 24, 2017 saw an increase of 0.13% compared to the sales of US $13.9 billion in the same period in 2016. The total amount of US currency sold by CBI in the calendar year 2016 was US $14.55 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to July 2017, sales of US dollars averaged US $1.78 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Year	Month	US dollar sales in billions	Increase/(decrease) compared to the previous month
2016	January	2	–
2016	February	2.09	4%
2016	March	1.95	-7%
2016	April	1.94	-0%
2016	May	2.09	8%
2016	June	1.8	-14%
2016	December	0.4	-78%
2017	January	2.2	450%
2017	February	2	-9%
2017	March	2.1	5%
2017	April	1.8	-14%
2017	May	2.3	28%
2017	June	0.6	-74%
2017	July	1.6	167%