Central bank sales schedule for the auction currency today

[ronscarpa]

Currency Auctions

Announcement No. (3265)

The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on Tuesday, 23/8/2016 and the results were as follows:

 

DETAILS	NOTES
Number of banks	29
Number of remittance companies	15
Auction price selling dinar / US$	1182
Auction price buying dinar / US$	-----
Amount sold at auction price (US$)	136,778,350
Amount purchased at Auction price (US$)	-----
Total offers for buying (US$)	136,778,350
Total offers for selling (US$)	-----

ADDITIONALLY:
1. Quantity sold to banks from the date of 01.04.2016 until 8.23.2016 ( 20,185,672,911 ) dollars
2. Quantity sold to banks from the date of 01.04.2015 until 8.23.2015 ( 27,606,750,826 ) dollars.
3. Note that:
   * Sarabie amounts transferred to accounts in banks abroad (1190) dinars per dollar. 
   * Cash sales price (1190) dollars Danarlkl dollars.

[yota691]

The central bank sold more than $ 155 million

View 25   |   0

Reload 31/05/2017 1:01 pm   BAGHDAD / JD / .. The central bank announced on Wednesday to sell more than 155 million in its daily auction. According to the Central Bank schedule published on its website and seen by agency economic dinars, the auction saw the participation of 37 banks and 10 transfer company. According to the table that the amount sold by the bank at the auction currency; The US $ Total 155 688 671 Buy Offers; US $ 155 688 671. He noted the bank at the end of the table that the sale Balnkadi price of 1190 dinars per dollar, while the sale amounts transferred to the accounts of banks abroad rate (1190) dinars per dollar. It is worth mentioning that the Central Bank of Iraq was established in 1947 by a Royal Decree in the monarchy, and was formerly called as the National Bank of Iraq, while re-established after the American occupation of Iraq, based on the Central Bank of Iraq in 2004, the law, the head of authorized capital of 100 billion dinars. It ended 22. / Finished / 22 /

[coorslite21]

48 minutes ago, Jaygo said:

Happens all the time 

 

Guess I need to pay better attention to Iraq and the IQD......didn't realize this.....

[Synopsis]

1 hour ago, Jaygo said:

Happens all the time 

 

Although I've seen this happen in the past, this is not typical. I am estimating this occurs maybe once in six months with varying frequency.

 

24 minutes ago, coorslite21 said:

 

Guess I need to pay better attention to Iraq and the IQD......didn't realize this.....

 

I noticed this yesterday.

 

Today's announcement is:

 

The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 1/6/2017 that performed on 31/5/2017 and the results were as follows:

 

Whereas yesterday's announcement was something like (I swapped the dates):

 

The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 31/5/2017 that performed on 30/5/2017 and the results were as follows:

 

http://www.cbi.iq/index.php?pid=CurrencyAuctions

 

Although this may have happened more than one consecutive days at a time, I do not remember this occurring two or more days in a row.

 

Their business week is our Sunday through Thursday. Since tomorrow is their last day of their business week and the auction has occurred today for their last day of the week, it will be interesting to see if the CBI has a currency auction tomorrow.

 

The indicative rates (compared to other currencies) seems to be proportionate for the IQD being pegged to the USD.

 

The question that runs in my mind when I occasionally see this is, "Why would they want tomorrow's money for today?" I am always hoping this is an indication the currency auctions are going to be terminated but this hasn't happened - yet.

 

Top Of The Morning To You, CoorsLite21, and I Hope You Enjoy Your Day! 

 

Go Moola Nova!

 

[boosterbglee]

I find it unusual for a bank to do business for the next day!  Maybe it's just wishful thinking that something really is happening! 

[stangernan]

3 minutes ago, Synopsis said:

The question that runs in my mind when I occasionally see this is, "Why would they want tomorrow's money for today?"

It's all about the Hamburgers

[olivesman]

5 minutes ago, stangernan said:

It's all about the Hamburgers

But he was talking about Tuesday.

 

[chinadawg]

It does look a bit strange,,,,lets see what tomorrow brings,,,,in the mean time I think I will enjoy another cigar.....good day all.

[olivesman]

Just now, chinadawg said:

It does look a bit strange,,,,lets see what tomorrow brings,,,,in the mean time I think I will enjoy another cigar.....good day all.

I'm with you. 

[coorslite21]

37 minutes ago, Synopsis said:

Top Of The Morning To You, CoorsLite21, and I Hope You Enjoy Your Day! 

 

Go Moola Nova!

 

Thank you for the great explanation.  

 

Hope you have a great day as well...!

 

CL

[Synopsis]

Here is an oddity for the CBI money auction. There was an auction today, June 1, 2017 for June 4, 2017. So, now we are three auctions in a row for "paying it forward". This may have happened prior but I have not seen this. I have only seen it for one auction at a time in the past but not three in a row. I don't know if this is a policy change for the CBI if they continue to plan doing this or if this is anomaly driven. The business week in Iraq runs from our Sunday through Thursday. So the auction for today, Thursday, is for this coming Sunday. I am hoping Sunday, June 4 is a brand new day since Abadi announced Iraq would be out of Chapter VII within two months on April 4, 2017.

 

Currency Auctions

Announcement No. (3456)

The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 4/6/2017 that performed on 1/6/2017 and the results were as follows:

 

 

DETAILS	NOTES
Number of banks	38
Number of remittance companies	10
Amount sold at auction price (US$)	151,197,131
Amount purchased at Auction price (US$)	-----
Total offers for buying (US$)	151,197,131
Total offers for selling (US$)	-----

 

Exchange rates from (06/04/2015) till the last date

Exchange rates from the beginning of the auction until (19/2/2015)

 

http://www.cbi.iq/index.php?pid=CurrencyAuctions

 

Go Moola Nova!

Edited June 1, 2017 by Synopsis

[Laid Back]

5 minutes ago, Synopsis said:

Here is an oddity for the CBI money auction. There was an auction today, June 1, 2017 for June 4, 2017. So, now we are three auctions in a row for "paying it forward". This may have happened prior but I have not seen this. I have only seen it for one auction at a time in the past but not three in a row. I don't know if this is a policy change for the CBI if they continue to plan doing this or if this is anomaly driven. The business week in Iraq runs from our Sunday through Thursday. So the auction for today, Thursday, is for this coming Sunday. I am hoping Sunday, June 4 is a brand new day since Abadi announced Iraq would be out of Chapter VII within two months on April 4, 2017.

 

Currency Auctions

Announcement No. (3456)

The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 4/6/2017 that performed on 1/6/2017 and the results were as follows:

 

 

DETAILS	NOTES
Number of banks	38
Number of remittance companies	10
Amount sold at auction price (US$)	151,197,131
Amount purchased at Auction price (US$)	-----
Total offers for buying (US$)	151,197,131
Total offers for selling (US$)	-----

 

Exchange rates from (06/04/2015) till the last date

Exchange rates from the beginning of the auction until (19/2/2015)

 

http://www.cbi.iq/index.php?pid=CurrencyAuctions

 

Go Moola Nova!

Agree with my friend👍🏻

 

I haven't see this before either.

 

Go new monetary policy 

Go release chapter VII sanctions 

Go RV

[Synopsis]

7 minutes ago, Laid Back said:

Agree with my friend👍🏻

 

I haven't see this before either.

 

Go new monetary policy 

Go release chapter VII sanctions 

Go RV

 

Thank You my friend, Laid Back! Hope All Is Well With You! 

 

Go Moola Nova!

[SnowGlobe7]

are they shorting the dinar??? lol

[yota691]

$ 151.1 million central bank sales of the dollar

 

 

Economy News Baghdad :  Announced the bank 's central Iraq, Sunday, that the sales in the window of selling the currency today reached 151 . 1 million dollars, stressing that the number of banks and companies banking participation in the window selling currency 48 banks and companies to convert financial . He said the bank 's central in a statement news received " Economy News " a copy of it, that " the amount sold from before the bank at the price of the auction on Sunday reached 151 . 1 million dollars " , referring to the " 38 Massarva and 10 companies convert Mali participated in the window of selling the currency ." He added that " the price of the sale amounts transferred to the accounts of banks in overseas 1190 dinars per dollar ."   Views 142   Date Added 04/06/2017 - 11:48   Last updated 04/06/2017 - 14:09   No. Content 7777

[Synopsis]

Interesting, the CBI is still holding currency auctions for the next business day:

 

Currency Auctions

Announcement No. (3457)

The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 5/6/2017 that performed on 4/6/2017 and the results were as follows:

 

 

DETAILS	NOTES
Number of banks	36
Number of remittance companies	10
Amount sold at auction price (US$)	157,268,429
Amount purchased at Auction price (US$)	-----
Total offers for buying (US$)	157,268,429
Total offers for selling (US$)	-----

 

Exchange rates from (06/04/2015) till the last date

Exchange rates from the beginning of the auction until (19/2/2015)

 

http://www.cbi.iq/index.php?pid=CurrencyAuctions

 

Go Moola Nova!

[ChuckFinley]

Morning Synopsis, I will have to keep an eye on this.  

[Synopsis]

4 minutes ago, ChuckFinley said:

Morning Synopsis, I will have to keep an eye on this.  

 

Morning, ChuckFinley!

 

I'll have to keep an eye on this, too, since I have never seen before a run of four consecutive business days of the CBI holding a currency auction on a given business day for the next business day. I don't know what that means but seems odd. Seems like if things were going to real time, the auctions would potentially be electronic by legitimate and preauthorized entities on a moment by moment basis on the CBI business day during CBI business hours and not once a day with a day delay. Maybe the extra day is to monitor the auctioning entities for corruption or money laundering with mechanisms in place to halt the currency transfers to these corrupt entities. If so, that would be good news from a implementation of the Anti Money Laundering mechanisms.

 

Go Moola Nova!

[yota691]

Iraqi central foreign exchange sales rise $ 3 million

 

 

Economy News _ Baghdad:      Iraqi Central Bank sales of foreign currencies rose during the auction on Tuesday, to about US $ 159.47 million, compared to $ 156.76 million auction on Monday, an increase of $ 2.71 million, according to the central statement.   Central said in a statement, that the exchange rate was 1182 dinars per dollar at the auction held with the participation of 35 banks and financial companies 9 convertible.   The bank noted in the statement, that the size of the amounts sold to boost bank balances abroad amounted to 119.89 million dollars, while the sales amount in cash of $ 39.58 million.   Central said in the statement, that the sale amounts transferred to the accounts of banks abroad will be priced at 1190 dinars per dollar, while cash sales shall be at the same price.
Views 10   Date Added 06/06/2017 16:30 -   Last Updated 06/06/2017 18:30 -   No. Content 7830

[dinarham]

I don't know why ,but I like this just because it is out of the ordinary

[ChuckFinley]

Thanks Yota. 

[Officiallytook]

Hmm, by holding for next business day, today, will give you a lot of leeway when wanting to stop them all together. For what ever reason.

[yota691]

Iraqi central foreign currency sales decline of $ 360 thousand

 

 

Economy News _ Baghdad:   Iraqi Central Bank sales of foreign currencies fell during the auction on Monday to about $ 108.8 million, compared to 109.16 million dollars on auction last Sunday, down 360 thousand dollars, according to the central statement.   He noted that the central port auction today, is scheduled auction results tomorrow, June 13.   Central said in a statement, "Economy News" received a copy of it, that the exchange rate was 1182 dinars per dollar at the auction held with the participation of 37 banks and 10 financial companies for the conversion.   The bank noted in the statement, that the size of the amounts sold to boost bank balances abroad amounted to $ 112.5 million, while the sales amount of $ 1.35 million in cash.   Central said in the statement, that the sale amounts transferred to the accounts of banks abroad will be priced at 1190 dinars per dollar, while cash sales shall be at the same price.
Views 4   Date Added 06/12/2017 - 13:19   Last updated 06/12/2017 - 13:40   No. Content 7898

[skeetdog]

Thanks Yota...This could be the results of the international banking system to monitor the laundering of money by the CBI though their updated world electronic system...Last month there was news about the CBI acquiring some type of international system used by the rest of the world to combat corruption and money laundering....Then a couple weeks ago there was article that stated there was training being done to educate the CBI on international banking techniques.....Seeing that the sales are starting to decline...we maybe starting to see the beginning of the end to these auctions.....jmho 

[Synopsis]

1 hour ago, skeetdog said:

Thanks Yota...This could be the results of the international banking system to monitor the laundering of money by the CBI though their updated world electronic system...Last month there was news about the CBI acquiring some type of international system used by the rest of the world to combat corruption and money laundering....Then a couple weeks ago there was article that stated there was training being done to educate the CBI on international banking techniques.....Seeing that the sales are starting to decline...we maybe starting to see the beginning of the end to these auctions.....jmho 

 

I concur, SkeetDog!

 

If I am not mistaken, the IMF and WB has come requirements that the CBI recently implemented. Although the "pay it forward a day" requirement was not specifically noted, it appears to be a more permanent practice. As you noted, I suspect as well this is due to combating corruption and money laundering.

 

Looks like Iraq has been told to get their act together and Iraq appears to be doing that but not entirely there, yet. As Iraq meets various milestones, the external sanctions/shackles will be removed and then I suspect Iraq's monetary policies will get a healthy dose of nitrous.

 

Top Of The Morning To You and I Hope You Are Enjoying Your Coffae' (um mmmm)!

 

Go Moola Nova!