yota691 Posted March 8, 2012 Report Share Posted March 8, 2012 (edited) Currency Auctions Announcement No. (2094) The latest daily currency auction was held in the Central Bank of Iraq on the 8-MAR-2012. The results were as follows: DETAILS NOTES Number of banks 26 Auction price selling dinar / US$ 1166 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 257,516,000 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 257,516,000 Total offers for selling (US$) ----- Exchange rates Dollar's exchange rates / in Baghdad market http://www.cbi.iq/index.php?pid=CurrencyAuctions Edited March 8, 2012 by yota691 Link to comment Share on other sites More sharing options...
precious1 Posted March 8, 2012 Report Share Posted March 8, 2012 WOW, it's been a while seeing these kind of numbers~ Link to comment Share on other sites More sharing options...
yota691 Posted March 8, 2012 Author Report Share Posted March 8, 2012 They are up Big time!! Link to comment Share on other sites More sharing options...
DEESEAN Posted March 8, 2012 Report Share Posted March 8, 2012 Word, the last three auctions have been nutz Link to comment Share on other sites More sharing options...
dinarmom09 Posted March 8, 2012 Report Share Posted March 8, 2012 PLease explain.. Is this good or bad for us?? Link to comment Share on other sites More sharing options...
DEESEAN Posted March 8, 2012 Report Share Posted March 8, 2012 (edited) PLease explain.. Is this good or bad for us?? This is good for us. The CBI is using these auctions to pull the large IQD denoms off the streets. They are alsoo flooding the streets with the good ole greenback. The CBI wants the Iraqi people to have faith in their currency and not the USD. The only way for them to do this is to raise the value of the IQD so the locals will use their own currency instead of the dollar. I hope this helps. If i'm way off here guys and gals please jump in . Edited March 8, 2012 by DEESEAN Link to comment Share on other sites More sharing options...
Abarvets Posted March 8, 2012 Report Share Posted March 8, 2012 (edited) Interesting they would have such large auctions after all the articles regarding control of the money supply and fears of currency leaving the country. Thanks for posting the numbers! Edited March 8, 2012 by Abarvets Link to comment Share on other sites More sharing options...
Rubberband King Posted March 8, 2012 Report Share Posted March 8, 2012 Thanks Yota. Numbers are huge and I hope it gets bigger. Leggo RV! Link to comment Share on other sites More sharing options...
truthful1 Posted March 8, 2012 Report Share Posted March 8, 2012 This is good for us. The CBI is using these auctions to pull the large IQD denoms off the streets. They are alsoo flooding the streets with the good ole greenback. The CBI wants the Iraqi people to have faith in their currency and not the USD. The only way for them to do this is to raise the value of the IQD so the locals will use their own currency instead of the dollar. I hope this helps. If i'm way off here guys and gals please jump in . Dinar brought in at auction is from the cash part of the auction. its not the total volume. info can be found on the pdf file for.currency auctions on the cbis website...fyi Link to comment Share on other sites More sharing options...
DEESEAN Posted March 8, 2012 Report Share Posted March 8, 2012 Dinar brought in at auction is from the cash part of the auction. its not the total volume. info can be found on the pdf file for.currency auctions on the cbis website...fyi Thanks for the info truthful1. Link to comment Share on other sites More sharing options...
bucktrax Posted March 8, 2012 Report Share Posted March 8, 2012 Great Info. Thanks!! Link to comment Share on other sites More sharing options...
fnbplanet Posted March 8, 2012 Report Share Posted March 8, 2012 Interesting they would have such large auctions after all the articles regarding control of the money supply and fears of currency leaving the country. Thanks for posting the numbers! Maybe something's happening soon and it doesn't matter anymore. Link to comment Share on other sites More sharing options...
rightsonword Posted March 8, 2012 Report Share Posted March 8, 2012 If they RV at 1-1, how much USD will they be bringing in of the streets? I'm assuming all those USD would go into their reserves or am I missing something here? Link to comment Share on other sites More sharing options...
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