Currency Auctions Central Bank of Iraq on the 8-MAR-2012

[yota691]

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

[precious1]

WOW, it's been a while seeing these kind of numbers~

[yota691]

They are up Big time!!

[DEESEAN]

Word, the last three auctions have been nutz

[dinarmom09]

PLease explain.. Is this good or bad for us??

[DEESEAN]

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

[Abarvets]

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

[Rubberband King]

Thanks Yota.

Numbers are huge and I hope it gets bigger.

Leggo RV!

[truthful1]

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

[DEESEAN]

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.

[bucktrax]

Great Info. Thanks!!

[fnbplanet]

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.

[rightsonword]

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?