***Currency Auction*** 1/30/12, (US$) 199,925,000

[billiebobt]

Currency Auctions

Announcement No. (2067)

The latest daily currency auction was held in the Central Bank of Iraq on the 30-JAN-2012. The results were as follows:

Details Notes

Number of banks 24

Auction price selling dinar / US$ 1166

Auction price buying dinar / US$ -----

Amount sold at auction price (US$) 199,925,000

Amount purchased at Auction price (US$) -----

Total offers for buying (US$) 199,925,000

Total offers for selling (US$) -----

CBI Auctions

[k98nights]

bump

[Abarvets]

Thanks Billiebot.

[Stryker365]

Thanks Billiebot.

Ditto.......once again, right at the 200 million mark.......with all the articles that state both Iran & Syria want the USD the auctions would be where they were a few weeks ago...above 300 million......then the CBI article came out confirming it and the auctions started being controlled to this....can we say hummmm...

Edited January 30, 2012 by Stryker365

[Abarvets]

Ditto.......once again, right at the 200 million mark.......with all the articles that state both Iran & Syria want the USD the auctions would be where they were a few weeks ago...above 300 million......then the CBI article came out confirming it and the auctions started being controlled to this....can we say hummmm...

You and I are on the same page........................

[captl1]

Doc31 we need your input on this along with the article RSS broght in.......Come Out Come Out where ever you are!!!!...Thanks

[Canuklady]

Thanks for the post! Yep, right at the 200 mark again! I'm right there with you guys!

[TimS]

Currency Auctions

Announcement No. (2067)

The latest daily currency auction was held in the Central Bank of Iraq on the 30-JAN-2012. The results were as follows:

Details Notes

Number of banks 24

Auction price selling dinar / US$ 1166

Auction price buying dinar / US$ -----

Amount sold at auction price (US$) 199,925,000

Amount purchased at Auction price (US$) -----

Total offers for buying (US$) 199,925,000

Total offers for selling (US$) -----

CBI Auctions

I need some help here......it looks like 24 banks sold dinar at a rate of exchange of 1166 per dollar and they sold dinar worth $199,925,000. There were no buyers of dinars. Am I reading this correctly??? I hope not cause that would mean they are putting over 200 billion dinar into circulation, while adding 200 million US$ to their reserves? I must be r4eading this thing backwards...please tell me I'm reading this backwards

[TimS]

can no one answer my question? please see above post...thanks

[zigmeister]

I really can't. Someone will come along.

[truthful1]

I need some help here......it looks like 24 banks sold dinar at a rate of exchange of 1166 per dollar and they sold dinar worth $199,925,000. There were no buyers of dinars. Am I reading this correctly??? I hope not cause that would mean they are putting over 200 billion dinar into circulation, while adding 200 million US$ to their reserves? I must be r4eading this thing backwards...please tell me I'm reading this backwards

Yes your reading it backwards. remember the auction is listed in the perspective of the buyer. You would know the cbi was selling dinar if the auction was at 1164. I can go further into detail a little later, if you still need help.

[TimS]

Yes your reading it backwards. remember the auction is listed in the perspective of the buyer. You would know the cbi was selling dinar if the auction was at 1164. I can go further into detail a little later, if you still need help.

thank you

[truthful1]

The cbi buys dinar at 1166, to sell it at 1164 dinar. remember the auction is always in the view of the participants. the cbi site shows the 1164 buy and 1166 sell. so when you sell at 1166 the cbi is buying, and when you buy at 1164 the cbi is selling. i hope that helps.

Edited January 30, 2012 by truthful1