The Central Bank of Iraq (CBI) has registered a minor rise in its auction

[yota691]

CBI sells US $202 million in its Monday auction

1/23/2012 5:28 PM

BAGHDAD / Aswat al-Iraq: The Central Bank of Iraq (CBI) has registered a minor rise in its auction for sale and purchase of foreign currencies, to reach the selling of US$202 millions and 60,000 US dollars, covered by the CBI on Monday, compared with 200 million US dollars in its previous session, at an exchange rate of 1,166 dinars per dollar, the CBI's daily bulletin reported.

"The total size of demand on the US dollar has reached 202 millions and 60,000, covered by the CBI on an average rate of 1,166 dinars per dollar on Monday, whilst the Bank's sales had recorded 200 millions and 310,000 US dollars in its Sunday session," the bulletin stressed.

The bulletin pointed out that "the Bank's cash sales had reached 19 millions and 750,000 US dollars, on an exchange rate of 1,179 dinars per dollar, including the Bank's interest rate of 13 dinars per dollar, whilst the foreign transfers have reached 182 millions and 310,000 US dollars; none of the banks that attended the sessions, including the 19 banks that attended today's session have offered a single dollar for sale.

The CBI holds 5 weekly sessions for selling and buying foreign currencies, beginning on Sunday and ending on Thursday, charging 13 dinars per dollar for its cash sales, along with another 13 dinars for its foreign transfers.

SKH (TP)/SR

http://en.aswataliraq.info/(S(livp3i55yymmczmg2u2yosyu))/Default.aspx?page=article_page&c=slideshow&id=146604

[Luigi1]

Go RV.

Now vote...damn it...vote.

[Stryker365]

The bulletin pointed out that

"the Bank's cash sales had reached 19 millions and 750,000 US dollars,

$19,750,000 USD.....cash.....rate 1,179.......includes 13 interest rate 13 dinars per dollar

on an exchange rate of 1,179 dinars per dollar, including the Bank's interest rate of 13 dinars per dollar,

whilst the foreign transfers have reached 182 millions and 310,000 US dollars;

$182,3100,000 US dollars.........foreign transfers

none of the banks that attended the sessions, including the 19 banks that attended today's session have offered a single dollar for sale.

charging 13 dinars per dollar for its cash sales, along with another 13 dinars for its foreign transfers.

Breaking these articles down gives me a better understanding, I hope they help you too....

[simon8957]

The bulletin pointed out that

"the Bank's cash sales had reached 19 millions and 750,000 US dollars,

$19,750,000 USD.....cash.....rate 1,179.......includes 13 interest rate 13 dinars per dollar

on an exchange rate of 1,179 dinars per dollar, including the Bank's interest rate of 13 dinars per dollar,

whilst the foreign transfers have reached 182 millions and 310,000 US dollars;

$182,3100,000 US dollars.........foreign transfers

none of the banks that attended the sessions, including the 19 banks that attended today's session have offered a single dollar for sale.

charging 13 dinars per dollar for its cash sales, along with another 13 dinars for its foreign transfers.

Breaking these articles down gives me a better understanding, I hope they help you too....

Stryker ..help a fella out...what exactly does this mean?????

[Darin]

Stryker ..help a fella out...what exactly does this mean?????

Big auction # is foreign transfers...

That's USD or other tradeable currencies being sold by the CBI

Why? To pay for imports...

It is basically stating that $200 million + in the last few days is being spent out of country to import goods.

Whether it is a business owner exchanging, a bank acquring dollars, or whatever - a good portion is used to purchase imports.

[Stryker365]

Big auction # is foreign transfers...

That's USD or other tradeable currencies being sold by the CBI

Why? To pay for imports...

It is basically stating that $200 million + in the last few days is being spent out of country to import goods.

Whether it is a business owner exchanging, a bank acquring dollars, or whatever - a good portion is used to purchase imports.

Thanks Darin for helping him out.....just came back from my workout, trying to lose this weight I have put on from not smoking.