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Central Iraqi sales of foreign currency rise 6 million dollars


yota691
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Economy News Baghdad

The Central Bank of Iraq's foreign currency sales rose Thursday to 152.7 million dollars, compared with 139.41 million dollars last Thursday, up 13.29 million dollars. 
The Central Bank, in a statement seen by "economy News", the exchange rate amounted to 1190 dinars per dollar, in the auction held with the participation of 37 banks, and 3 financial transfer companies. 
The total sales for the day were $ 195.8 million, the bank said. 
Amounts sold to strengthen bank balances abroad were $ 151.35 million, while cash sales were estimated at $ 1.35 million. 
According to the statement, the sale of amounts transferred to the accounts of banks abroad at the price of 1190 dinars per dollar, while the cash sale will be at the same price.


Number of Views 2   Date Added 08/04/2018

 
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Central Bank of Iraq Auctions $196,825,899 on 09 April 2018

 

by b88ef8cc81a87701a1091493f3241fb4?s=40&d=Ibrahim KhalilApr 9, 2018, 1:45 pm

http://dinarvets.com/forums/index.php?/forum/5-iraq-amp-dinar-related-news/&do=add

 

 

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Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on April 9 registered $196,825,899 in sales, a 0.52% volume increase from the US $195,798,257 sold by Iraqi Dinar, credit and transfer at the previous auction held on April 8.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on April 9 compared to the previous auction.

Data for the April 9 auction was made public by CBI Announcement Number 3673.

Dollar sales in the in the period January 1, 2018 to April 9, 2018 saw an increase of -1% compared to the sales of US $9.63 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to April 2018, sales of US dollars averaged US $1.81 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
2017 January 2.2
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 2.1 -5%
2017 September 1 -52%
2017 October 2.2 120%
2017 November 1.9 -14%
2017 December 1.9 0%
2018 January 2.2 16%
2018 February 2 -9%
2018 March 1.9 -5%
2018 April 0.6 -68%
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Central Bank of Iraq Auctions $167,042,900 on 10 April 2018

 

lApr 10, 2018, 1:45 pm

 

 

 

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Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on April 10 registered $167,042,900 in sales, a -15.13% volume decline from the US $196,825,899 sold by Iraqi Dinar, credit and transfer at the previous auction held on April 9.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on April 10 compared to the previous auction.

Data for the April 10 auction was made public by CBI Announcement Number 3674.

Dollar sales in the in the period January 1, 2018 to April 10, 2018 saw an increase of -1% compared to the sales of US $9.77 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to April 2018, sales of US dollars averaged US $1.82 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
2017 January 2.2
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 2.1 -5%
2017 September 1 -52%
2017 October 2.2 120%
2017 November 1.9 -14%
2017 December 1.9 0%
2018 January 2.2 16%
2018 February 2 -9%
2018 March 1.9 -5%
2018 April 0.7 -63%
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Rmc10, this auction will get lowered to a point where the dinar rate increases in value as there will be less demand for the dollar...and as result the lower notes will be introduced...the citizens will come forward to exchange or deposit their higher notes. Watch what's happening with the Iranian riyal currency, it decreases in value because people are demanding dollars and other currencies. Iran will stop using dollar for trading and be replaced for euro instead....and when this happens the iqd rate will increase due to less demand for dollar in the market...just wait and see. This is the month I tell you.

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10 minutes ago, navira45 said:

Rmc10, this auction will get lowered to a point where the dinar rate increases in value as there will be less demand for the dollar...and as result the lower notes will be introduced...the citizens will come forward to exchange or deposit their higher notes. Watch what's happening with the Iranian riyal currency, it decreases in value because people are demanding dollars and other currencies. Iran will stop using dollar for trading and be replaced for euro instead....and when this happens the iqd rate will increase due to less demand for dollar in the market...just wait and see. This is the month I tell you.

 

How did you arrive at this conclusion navira45 ? It doe's make sense to me but the way you say it , it comes as a statement of fact more so then an educated guess.

 

I say this in a positive way and not condensing at all. Just curious is all as are a number of different folks here.

 

pp

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12 minutes ago, navira45 said:

Rmc10, this auction will get lowered to a point where the dinar rate increases in value as there will be less demand for the dollar...and as result the lower notes will be introduced...the citizens will come forward to exchange or deposit their higher notes. Watch what's happening with the Iranian riyal currency, it decreases in value because people are demanding dollars and other currencies. Iran will stop using dollar for trading and be replaced for euro instead....and when this happens the iqd rate will increase due to less demand for dollar in the market...just wait and see. This is the month I tell you.

Hope so! That would be fantastic

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  • yota691 changed the title to Central sales are down to $ 134 million

Central sales are down to $ 134 million

April 11, 2018
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%D8%AF%D9%88%D9%84%D8%A7%D8%B12-696x435-

Media treasures / Baghdad ..

The central bank's foreign currency sales fell Wednesday to 134.33 million dollars, compared with 147.44 million dollars on Tuesday, down 13.11 million dollars.

A statement by the Central Bank that "the exchange rate amounted to 1190 dinars per dollar, in the auction held with the participation of 32 banks, and 3 financial transfer companies."

The statement added that "these sales are the results of the auction scheduled for Thursday," explaining that "the total sales of this day amounted to about 143.73 million dollars."

He added that "the volume of funds sold to strengthen the bank balances abroad amounted to 134.06 million dollars, while estimated cash sales amounts to 270 thousand dollars."

He explained that "the sale of amounts transferred to the accounts of banks abroad at the price of 1190 dinars per dollar, while the cash sale will be at the same price"

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12 hours ago, pokerplayer said:

How did you arrive at this conclusion navira45 ? Just curious i

 

I'm a little confused too, PP. We're all just guessing here and (Disclaimer: I'm no economist). My understanding is the auctions are to convert IQD to USD for international payments because nobody will take IQD. And like BAKKEN says, sale go up and down and up and down. Nothing to get excited about here. So, for example, were Italy to take IQD in payment for a shipload of olive oil, the IQD needs to be an accepted international currency and have value. IMF and world bodies have to ensure to Italy, they would get IQD payment and convert it to Euro or currency of choice. Everybody's happy then. Until the CBI, IMF, UST and GOI say 'go' we sit and wait. But I think all the indicators are, it is close. As far as lower denomination bills, why release a 1, 5, 10, 20 IQD if they are less value than USD 1, 5, 10 and 20. Yes, 1:1 conversion would make sense. So....stepping down from my soap box now. JMHO.

                                                                                                                                           B)

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1 hour ago, King Bean said:

 

I'm a little confused too, PP. We're all just guessing here and (Disclaimer: I'm no economist). My understanding is the auctions are to convert IQD to USD for international payments because nobody will take IQD. And like BAKKEN says, sale go up and down and up and down. Nothing to get excited about here. So, for example, were Italy to take IQD in payment for a shipload of olive oil, the IQD needs to be an accepted international currency and have value. IMF and world bodies have to ensure to Italy, they would get IQD payment and convert it to Euro or currency of choice. Everybody's happy then. Until the CBI, IMF, UST and GOI say 'go' we sit and wait. But I think all the indicators are, it is close. As far as lower denomination bills, why release a 1, 5, 10, 20 IQD if they are less value than USD 1, 5, 10 and 20. Yes, 1:1 conversion would make sense. So....stepping down from my soap box now. JMHO.

                                                                                                                                           B)

 

Keep your box handy you make a lot of sense and gave a great example. :twothumbs:

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  • yota691 changed the title to Central Iraqi sales of foreign currency rise 6 million dollars

Central Iraqi sales of foreign currency rise 6 million dollars

Central Iraqi sales of foreign currency rise 6 million dollars
Total sales totaled $ 186 million
 
 
 
 12 April 2018 12:08 PM


Direct sales of the Central Bank of Iraq from foreign currency, the second auction on Wednesday, to 140.69 million dollars, compared to 134.33 million dollars in the first auction for the same day , an increase of 6.36 million dollars.

The Iraqi Council of Ministers decided to consider Thursday an official holiday in the country on the occasion of the martyrdom of Imam Kadhim.

The central bank said in a statement that the exchange rate was 1190 dinars per dollar in the auction held with the participation of 35 banks and 3 financial transfer companies.

The bank said the sales were the result of the auction scheduled for next Sunday, explaining that the total sales for the day amounted to about 185.9 million dollars.

Amounts sold to boost bank balances abroad were $ 139.35 million, while cash sales were estimated at $ 1.35 million.

The Central Bank said in a statement that the sale of the amounts transferred to the accounts of banks abroad is at the price of 1190 dinars per dollar, while the cash sale will be at the same price.

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