CBI concludes dollar selling with decrease

[rockhound60]

CBI concludes dollar selling with decrease

Central Bank of Iraq Building

BAGHDAD / IraqiNews.com : Dollar selling in the Central Bank of Iraq (CBI) deteriorated today to reach 89 million, in comparison of 126 million dollars in the previous session.The exchange rate reached to 1179 Iraqi dinars for one dollar. CBI bulletin , copy received by IraqiNews.com, pointed out that the demand for the dollar was decreased in comparison to the end of the past year that reached to averagely to 200 million dollars. The decline was made by the political situations in both Iran and Syria. CBI holds five sessions per week to sell and buy the dollar to other Iraqi private banks.

http://www.iraqinews...-with-decrease/

[DinarWhiz]

Here we go!!!!

[Patriotic_mess]

These translations don't paint a good picture, for example:

CBI concludes dollar selling with decrease

Does this mean for the week or for good?

CBI concludes dollar selling with decrease

The exchange rate reached to 1179 Iraqi dinars for one dollar. CBI bulletin

Is this the street value or a new fixed rate that will show on Sunday? If it's a street value then the IQD value has increased significantly, if it's a new fixed rate then we are headed in the wrong direction!

[TexasGranny]

Makes you wonder where their info came from - here is the auction info from cbi.iq

Announcement No. (2079)

The latest daily currency auction was held in the Central Bank of Iraq on the 16-FEB-2012. The results were as follows:

DETAILS NOTES

Number of banks 16

Auction price selling dinar / US$ 1166

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

Amount sold at auction price (US$) 89,807,000

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

Total offers for buying (US$) 89,807,000

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

Exchange rates

Dollar's exchange rates / in Baghdad markets

Looks like 1166 for the price to me - wonder where they got 1179

[oleman]

Does this mean for the week or for good?

This is for the week. They pick up again on Sunday and go through Thursday.

Is this the street value or a new fixed rate that will show on Sunday? If it's a street value then the IQD value has increased significantly, if it's a new fixed rate then we are headed in the wrong direction!

I think it is the street value, and you are correct as it was over 2000 to 1.