Rise in central bank sales to $ 250 million.

[Dinar_o'saurs]

Baghdad, March 18 / March (Rn) - The Central Bank of Iraq from higher sales of the U.S. dollar on Sunday to $ 250 million from $ 247 million at the end of the session Thursday.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the central bank sales on Sunday amounted to $ 250 million while the last Thursday $ 247 million," explaining that "Price was 1179 Iraqi dinars to the dollar interest rate of up to 10 dinars. "

He also called for the owners of banking offices to "adapt to the new mechanisms established by the Central Bank of Iraq in the sale process difficult to prevent smuggled out of the country because of crises in the countries in the region."

The rate of sale of the Central Bank in January 11 last January, $ 300 million for the first time in years, and put on evacuated a new mechanism requiring the withdrawal of foreign currency on the basis of the importance of development projects in the country, especially after the news emerged, in recent times, for the smuggling of large of hard currency to Iran, facing international sanctions over its nuclear program.

From: Jafar Allonan. Open: Abdullah Sabri

[Dinar_o'saurs]

BAGHDAD / Aswat al-Iraq: Sales from Central Bank of Iraq at the end of its weekly, on Thursday, rose slightly to reach $ 250 million in Mzah for the sale of foreign currencies, compared with 248 the previous session, the exchange rate based on 1166 dollars for every dollar.

The bulletin issued by the Central Bank and received by the agency (Voices of Iraq) a copy of that total volume of demand on the dollar stood at 250 million and 535 thousand dollars, covered by the central bank at an exchange rate basis was 1166 dinars to the dollar. "

The sales of today's session, rising slightly from the previous meeting that $ 248 million and 27 thousand dollars.

The average dollar selling at auction the CBI between 150-160 million dollars a day.

The sales of today's session higher than the average sales routine over the past few years, after they have fallen significantly since early February current, compared with the end of 2011 and the month of January last, and which averaged about 200 million of the session, after the increase in demand than ever, because of sanctions imposed on Iran, Syria, prices fell and the lira exchange Altoman half.

Called the central bank to tighten foreign currency sale to private banks are required to disclose the clients of the applicants purchase, according to the instructions adopted at the first of February 2012, and ratified the instrument on the use of a single customer for the purposes of tariff.

And distributed auction sales on the "cash sales of $ six million and 750 thousand dollars at the exchange rate was 1179 dinars per dollar," inclusive "commission the Central Bank amounting to 13 dinars per dollar," while sales orders, "the amount of 243 million and 785 thousand dollars at the exchange rate was 1179 dinars per dollar, "inclusive" the amount of commission the Central Bank of 13 dinars per dollar. "

Bulletin indicated that "the banks of the 22 common auction did not make any offers to sell dollars."

The Iraqi central bank held five sessions weekly auction from Sunday to Thursday for the sale and purchase of foreign currency, and receive a cash commission on the sale of about 13 dinars per dollar, and receive a commission of 13 dinars per dollar on the sale of remittances outside the country.

MD (x)

One hecka'va commission!

[Abarvets]

GM, thanks for the articles. Did not the CBI issue a limit on the commisssion not to be more then 10 dinars?

[Dinar_o'saurs]

GM, thanks for the articles. Did not the CBI issue a limit on the commisssion not to be more then 10 dinars?

Good question Abarvets. If they did, seems like they had to adjust their commissions according to inflation too.

Maybe one of our newshounds can shed some light on this.

Thanks!

[Butifldrm]

Dinar_osaurus, These values were taken from the PDF March 18th. Looks a little different than what's in the news.

Date Market Price Auction Price Volume USD Cash Transaction

1901 18-Mar 1,240 1,166 219,005 23,500 195,505

http://www.cbi.iq/documents/CBI_FOREIGN_EXCHANGE_AUCTIONS.pdf