Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

The central bank sells more than 160 million dollars


yota691
 Share

Recommended Posts

 
stock market
  •  Tuesday: August 15, 2017
  •  
  •  4
20863970_1088661457932120_1723070271_n.j

Awaji Press / Baghdad

 

The Central Bank of Iraq (CBI) sold more than 160 million dollars in a foreign currency sale on Tuesday.

A statement by the bank that "the volume of the amount sold today amounted to 160 million, and 532 thousand and 689 dollars, at an exchange rate of 1182 dinars per dollar, with the participation of 43 banks and 10 companies for financial transfer." The statement said that "the sale of amounts transferred to the accounts of banks abroad, as well as the sale of cash was the price of 1190 dinars per dollar."

  • Upvote 6
Link to comment
Share on other sites

23 minutes ago, ChuckFinley said:

The two questions I have are:

1. What size domination were turned in (are there more 10k notes than 25k)?

2. How much dinar has been taken in vs how much has been printed?

 

There really can not be that much out there since they have been buying for years now. :praying:

 

 

This is so confusing to me.  

 

I am always reading that Iraq has 40 - 60 trillion dinars "out there", so how can they RV with so many dinars in circulation and under mattresses.

Then, I read how they are taking in so much dinar with their auctions, over so many years (as you said, Chuck).

 

So why does Iraq report that their M0, M1, M2 (whatever it is) shows a lot of dinar out there, while at the same time reporting that they are taking in so much dinar in their auctions.

Both reports can't be right, right?

 

Can any one explain?

  • Upvote 2
  • Downvote 1
Link to comment
Share on other sites

24 minutes ago, ChuckFinley said:

The two questions I have are:

1. What size domination were turned in (are there more 10k notes than 25k)?

2. How much dinar has been taken in vs how much has been printed?

 

There really can not be that much out there since they have been buying for years now. :praying:

 

Hello ChuckFinley ! Those are extremely valid points. The last series of Dinar we're printed between 2013---2015. So that means that the IQD was printed up until 2015. Between investors, attrician, lost, burned , stolen, blown-up and auctions it has to be a heck of a lot ! 

  • Upvote 1
Link to comment
Share on other sites

14 minutes ago, Floridian said:

 

This is so confusing to me.  

 

I am always reading that Iraq has 40 - 60 trillion dinars "out there", so how can they RV with so many dinars in circulation and under mattresses.

Then, I read how they are taking in so much dinar with their auctions, over so many years (as you said, Chuck).

 

So why does Iraq report that their M0, M1, M2 (whatever it is) shows a lot of dinar out there, while at the same time reporting that they are taking in so much dinar in their auctions.

Both reports can't be right, right?

 

Can any one explain?

 

11 minutes ago, Texstorm said:

Hello ChuckFinley ! Those are extremely valid points. The last series of Dinar we're printed between 2013---2015. So that means that the IQD was printed up until 2015. Between investors, attrician, lost, burned , stolen, blown-up and auctions it has to be a heck of a lot ! 

I believe Laid Back did a summery awhile back and it was very well done. If I start see all that Chucky Money rolling in, then that would be a good sign. Also, if I noticed fewer and fewer 25k and more 10k notes then we know for sure we have pulled in the bulk of those 25k notes.  

  • Upvote 3
Link to comment
Share on other sites

CENTRAL BANK OF IRAQ AUCTIONS $160,301,770 ON 14 AUGUST 2017
Iraq, August 15, 2017

The Central Bank of Iraq (CBI) currency auction on August 14 registered $160,301,770 in sales, a -0.08% volume decline from the US $160,422,594 sold by Iraqi Dinar, credit and transfer at the previous auction held on August 13.

The latest auction was attended by 43 banks and 10 remittance companies. 2 more institutions attended the auction held on August 14 compared to the previous auction.

Data for the August 14 auction was made public by CBI Announcement Number 3504.

Dollar sales in the in the period January 1, 2017 to August 14, 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 August 2017, sales of US dollars averaged US $1.75 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 2.2 267%
2017 August 0.8 -64%

 

IraqiNews

   
  • Upvote 3
Link to comment
Share on other sites

I figured, by what Wiljor posted above, that they removed about $26 billion dollars worth of dinar in the past 15 months.

 

$26 Billion x 1182 dinar = almost 31 trillion dinar

 

Can someone check this?  I'm lousy at math.

 

If this is correct, then they've removed half the dinar in circulation in the past 15 months.  

Edited by Floridian
  • Upvote 2
Link to comment
Share on other sites

52 minutes ago, Floridian said:

I figured, by what Wiljor posted above, that they removed about $26 billion dollars worth of dinar in the past 15 months.

 

$26 Billion x 1182 dinar = almost 31 trillion dinar

 

Can someone check this?  I'm lousy at math.

 

If this is correct, then they've removed half the dinar in circulation in the past 15 months.  

I like where you guys are going with this...can't be too much left out there...those 500 officials in question should pull in a nice chunk as well probably enough to pull the trigger

  • Upvote 2
Link to comment
Share on other sites

 not trying to pour cold water on ya floridian cause i like your energy so don't take this as a negative at all ,its not meant to be that ..... but u cant figure this out by working the numbers, its like trying to guess the 2nd coming of Christ one can watch for the ( signs ) but u will never know the time same as this ( just got to be ready ) the auctions have been operating for many years, i remember cbi news articles years ago where they talked of burning / destroying currency as it was brought into the bank the problem is we don't see all the functions of the cbi they put a certain amount of currency back out in circulation those numbers are never published, the cbi list m numbers but who really knows if they are accurate most countries cook the books , much of those numbers can be projections don't trust me thou study m1-4 banking here is a short definition about the m1-4 money supplies ......

 

 Definition of M0, M1, M2, M3, M4

Different measures of money supply. Not all of them are widely used and the exact classifications depend on the country. M0 and M1, also called narrow money, normally include coins and notes in circulation and other money equivalents that are easily convertible into cash. M2 includes M1 plus short-term time deposits in banks and 24-hour money market funds. M3 includes M2 plus longer-term time deposits and money market funds with more than 24-hour maturity. The exact definitions of the three measures depend on the country. M4 includes M3 plus other deposits. The term broad money is used to describe M2, M3 or M4, depending on the local practice.
 
so to make a long post longer its very complicated and so thankful to yota for unending articles ,try to imagine any country today forming a democracy it is a monumental task for sure without all the huge setbacks iraq has faced it seems flat out crazy at times but interesting following along ,don't get down or discouraged if this does not match/fit someone's guess on the timing many here have been around the block for many years some will need a few more laps. this is all just my opinion and conjecture of course  .. Peace ,,all the best dv
  • Upvote 4
  • Downvote 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.