currency auction Central Bank of Iraq on the 23-APR-2012

[gamaray]

Currency Auctions

Announcement No. (2120)

The latest daily currency auction was held in the Central Bank of Iraq on the 23-APR-2012. The results were as follows:

DetailsNotesNumber of banks 11

Auction price selling dinar / US$1166

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

Amount sold at auction price (US$) 61,270,000

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

Total offers for buying (US$) 61,270,000

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

Exchange rates

Dollar's exchange rates / in Baghdad markets

http://www.cbi.iq/in...urrencyAuctions

[The Machine]

pretty small auction for 11 banks ......... (US$) 61,270,000

[captl1]

Drying Up!......Need the Doc31 for a recent analysis

[crcme]

What happened to DOC31? He was great at explaining what is happeing with the auctions?

[TQueezy]

They are constantly recirculating dinar and dollars into and out of the market through daily trades and auctions through the CBI. This is the mechanism they use to create a balance and control the inflation as well as keep the artificial program rate in place for the exchange rate of the Iraqi Dinar against the US Dollar and other currencies.

It could be that something is up, but again, the analysis of Doc31 and other members in the past has always been pure speculation based on economic principles that may not even been relevant to the situation because of how drastically the nature of global economics is changing in recent times.

And to end this... of course, IMO