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CBI News 12/14/2017


yota691
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 December 14, 2017
Advertising Auction Results

 

The Ministry of Finance approved on 31 December 2017 a public tender for the auction of Y38 for the sale of treasury bills for the period (364) days and the amount of (400) billion dinars (four hundred billion dinars only) has been sold the amount of the full and the highest price of competitive auctions (3.90% ) And the average yield (3.67%). The number of participants was (7) and the banks won (5) bids.

file-151324473674418.jpg

 

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3 hours ago, yota691 said:

To all approved banks ( internal letters of credit )

 

Translated:

 

We have noticed that some banks are opening up internal letters of credit in dollars and thus enhancing these credits through the foreign exchange window in this bank. We would like to state that all instructions regulating the sale and purchase of foreign currency, which we delayed, were our numbered instructions. (Dated 9/7/1) did not permit the enhancement of internal documentary credits through this bank. If the Bank is found to promote such a type of documentary credit through the foreign currency window, the bank will be subject to penalties stipulated in the laws And the instructions in force, knowing that this is applicable to cases prior to its issuance

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5 minutes ago, Michymateo2001 said:

What does this mean?

If they are ending the MCP ( Multiple Currency Practice) We will be exchanging our Dinars back to Dollars.... 

 

As Iraq starts using their own currency they won't need ours... 

 

Last I checked we are all here waiting on giving them back their dinars for a much improved exchange rate from the current .00086 and hopefully they drop the three zeros from the exchange rate making our Dinars worth .86 or their former glory of $3 + to 1 Dinar... 

 

Unless I'm in the wrong forum.... I thought that's what we were all waiting for? 

 

I'm confused now :wacko:

Edited by NEPatriotsFan1
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35 minutes ago, Donziman said:

My notes were bought new back in the day,but i've had them so long they

are wrinkled and need Viagra to stand up straight.

 

Even That Doesn’t Help This Flaccid Currency - Just The Dong ...

 

:D  :D  :D 

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1 hour ago, Donziman said:

My notes were bought new back in the day, but i've had them so long they are wrinkled and need Viagra to stand up straight.

 

I throw mine in the air, let them settle on the bed, roll around on them naked, then repackage until....tomorrow. I'm somewhat embarrassed though. At the redemption centers they may wonder why the bills smell like cheap aftershave and bacon. Davis411 would understand. LOL. :lol: 

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What is a 'Letter Of Credit'

A letter of credit is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase. Due to the nature of international dealings, including factors such as distance, differing laws in each country, and difficulty in knowing each party personally, the use of letters of credit has become a very important aspect of international trade.



Read more: Letter Of Credit https://www.investopedia.com/terms/l/letterofcredit.asp#ixzz51IvvDJ8H 

Edited by Reez
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