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Rise in central bank sales to $ 240 million


JustNTime
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Rise in central bank sales to $ 240 million

22/03/2012 15:36

cms-image-000100990.jpg

Baghdad, March 22 / March (Rn) - The Central Bank of Iraq that his sales of the U.S. dollar rose Thursday to $ 240 million versus $ 230 million in the previous session.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the central bank sales today amounted to $ 240 million while the last Tuesday of $ 230 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 $ 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 smuggling huge hard currency to Iran, which faces international sanctions over its nuclear program.

Edited by JustNTime
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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."

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Rise in central bank sales to $ 240 million

22/03/2012 15:36

cms-image-000100990.jpg

Baghdad, March 22 / March (Rn) - The Central Bank of Iraq that his sales of the U.S. dollar rose Thursday to $ 240 million versus $ 230 million in the previous session.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the central bank sales today amounted to $ 240 million while the last Tuesday of $ 230 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 $ 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 smuggling huge hard currency to Iran, which faces international sanctions over its nuclear program.

The spread is 13 dinars. It used to be 1183, but since the four pip movement it is now 1179. Now the banks dealing with citizens can add another 10 dinars on top of that for interest. If I'm wrong I'm sure someone will let us know. :)

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The latest daily currency auction was held in the Central Bank of Iraq on the 20-MAR-2012. The results were as follows:

Details Notes Number of banks 23

Auction price selling dinar / US{:content:}nbsp; 1166

Auction price buying dinar / US{:content:}nbsp; -----

Amount sold at auction price (US$) 227,338,000

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

Total offers for buying (US$) 227,338,000

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

This is interesting, this is what is showing on the CBI but yet the rate was updated today.....Indicative rates - 22.03.2012

Edited by Stryker365
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The latest daily currency auction was held in the Central Bank of Iraq on the 20-MAR-2012. The results were as follows:

Details Notes Number of banks 23

Auction price selling dinar / US{:content:}nbsp; 1166

Auction price buying dinar / US{:content:}nbsp; -----

Amount sold at auction price (US$) 227,338,000

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

Total offers for buying (US$) 227,338,000

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

This is interesting, this is what is showing on the CBI but yet the rate was updated today.....Indicative rates - 22.03.2012

That is interesting....... Thanks for the due diligence.

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Adam has mentioned before not to place too much stock in the CBI's information..

[kcw] TimS Adam...Can we believe the info posted by and on the CBI website? Specifically, they state an amount of dinar in circulation....is it reliable or could it be misinformation?

[adam montana] That's an awesome question. A lot of people claim "you don't need any special service, if you want to know when the RV happens just look at the CBI site"... I disagree. The CBI is often late to post any kind of news on their site, and when the RV is announced they are going to do EVERYTHING possible to mislead and retain as much profit as possible. Bottom line: I don't trust the CBI to post ANYTHING accurate other than the spread they are charging.

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