Luigi1 Posted May 2, 2012 Report Share Posted May 2, 2012 From another site... CBI Bank Auction Smashes The Previous Figures To Sell Half A Billion Dollars In One Day. 05/02/2012 BAGHDAD / JD smashed the Iraqi Central Bank auction on Wednesday, all indexes of the previous and the dollar amounts sold, where he now sells more than half a billion dollars at prices less than market prices by 10 points. He said the central bank in a statement obtained (JD) a copy of which was the opening of bids for the sale and purchase of dollar daily sixth and Twenty-two thousand for buying and selling foreign currency at the Central Bank of Iraq day Wednesday, 5/2/2012 and the results were as follows: - the number of banks contribute to the auction 15 , and the basic price, which landed him selling dinars / USD 1166, and the basic price, which landed him buying dinars / dollars / Read more. See link below.... http://bit.ly/IGFhZP Could this be in preparation of introducing the new lower denom IQD? What is your reaction? 4 3 Link to comment Share on other sites More sharing options...
magawatt Posted May 2, 2012 Report Share Posted May 2, 2012 They are buying dollars with dinar? Sure you have that right? Link to comment Share on other sites More sharing options...
Luigi1 Posted May 2, 2012 Author Report Share Posted May 2, 2012 They are buying dollars with dinar? Sure you have that right? CBI appears to be reducing the supply of USD on the streets. 3 2 Link to comment Share on other sites More sharing options...
chilli24 Posted May 2, 2012 Report Share Posted May 2, 2012 They are buying dollars with dinar? Sure you have that right? CBI Sell dollars at their auction, not dinar. 1 Link to comment Share on other sites More sharing options...
PhillyDinar Posted May 2, 2012 Report Share Posted May 2, 2012 CBI appears to be reducing the supply of USD on the streets. yup, yup.. and there is only one reason they would want to do that!!, first help reduce inflation by putting more dependance on national currency and along with that is the need to RV that so said currency CHA-CHING. lets get this thing done... Link to comment Share on other sites More sharing options...
rsskelton Posted May 2, 2012 Report Share Posted May 2, 2012 CBI Sell dollars at their auction, not dinar. You are correct sir. Seems kinda odd that they say they want to de-dollarise the country, then they flood the market with greenbacks. ( Unless this is another attempt to pull in large dinar notes, which I personally doubt, as I think enough "in country" large notes to satisfy them have already been pulled in). Iraq would make one hellova reality show. 2 Link to comment Share on other sites More sharing options...
Luigi1 Posted May 2, 2012 Author Report Share Posted May 2, 2012 CBI Sell dollars at their auction, not dinar. I read recently the CBI has over $200 Billion USD in addition to other currencies like the Euro, Yuan & SKW. They are ready if & when the RV cash in begins. 4 3 Link to comment Share on other sites More sharing options...
Kimjackie Posted May 2, 2012 Report Share Posted May 2, 2012 (edited) They are buying dollars with dinar? Sure you have that right? Yes they are selling dollars Edited May 2, 2012 by Kimjackie Link to comment Share on other sites More sharing options...
TexasGranny Posted May 2, 2012 Report Share Posted May 2, 2012 Currency Auctions Announcement No. (2126) The latest daily currency auction was held in the Central Bank of Iraq on the 2-MAY-2012. The results were as follows: DETAILS NOTES Number of banks 15 Auction price selling dinar / US$ 1166 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 121,524,000 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 121,524,000 Total offers for selling (US$) ----- Exchange rates Dollar's exchange rates / in Baghdad markets CBI Link to comment Share on other sites More sharing options...
mdmtexas Posted May 2, 2012 Report Share Posted May 2, 2012 ok guys I am more confused than ever. Please straighten out this newbie. Are they buying or selling dollars at the auctions. Link to comment Share on other sites More sharing options...
keepmwlknfny Posted May 2, 2012 Report Share Posted May 2, 2012 ok guys I am more confused than ever. Please straighten out this newbie. Are they buying or selling dollars at the auctions. They are selling dollars at the auctions.....its a way for the ministry of finance to get dinar for the USD they bring in from oil sales.... So they take the USD, sell it to the CBI for dinar, then the CBI turns around and sells the USD for a profit.... None of the currency involved in the auctions is coming from the streets of Iraq.... 7 5 Link to comment Share on other sites More sharing options...
LDJ Posted May 2, 2012 Report Share Posted May 2, 2012 If you go to the actual paper / web page the article is from they list the figures a couple of different times and ways but the exact same figures that the CBI web site shows for today ($121,524,000) but the article lists it in a right to left format, not the way we look at dollars and cents with the $ sign then the dollars and cents its the exact same amount just reveresed if that makes any sense. Screw up in iraqi ease and english format I do believe. "($) (000, 524, 121) and total sales promotions ($) No. " You can look at the article for verification from the original link. Just mho Link to comment Share on other sites More sharing options...
cooked Posted May 2, 2012 Report Share Posted May 2, 2012 They are selling dollars at the auctions.....its a way for the ministry of finance to get dinar for the USD they bring in from oil sales.... So they take the USD, sell it to the CBI for dinar, then the CBI turns around and sells the USD for a profit.... None of the currency involved in the auctions is coming from the streets of Iraq.... Wouldn't this money eventually filter down to the street? I know much is bank to bank transactions but I would think it would work its way down. Link to comment Share on other sites More sharing options...
mdmtexas Posted May 2, 2012 Report Share Posted May 2, 2012 Thank you Keep for the education. Hear one time it is buying and the next time it is selling and I was totally confused. I appreciate the explanation. Have a great day. Link to comment Share on other sites More sharing options...
sportfisher Posted May 2, 2012 Report Share Posted May 2, 2012 CBI appears to be reducing the supply of USD on the streets. You have no clue what you are talking about :lol: :lol: :lol: and how is it the biggest auction ever??? 2 Link to comment Share on other sites More sharing options...
magawatt Posted May 2, 2012 Report Share Posted May 2, 2012 They are buying dollars with dinar? Sure you have that right? Doh! That's what I get for texting before coffee. Doh! That's what I get for texting before coffee. It was the "pulls the USD off the street" that messed me up. Link to comment Share on other sites More sharing options...
keepmwlknfny Posted May 2, 2012 Report Share Posted May 2, 2012 Wouldn't this money eventually filter down to the street? I know much is bank to bank transactions but I would think it would work its way down. Im sure they do...the dinar probly more then USD..... Link to comment Share on other sites More sharing options...
Butifldrm Posted May 2, 2012 Report Share Posted May 2, 2012 You are correct sir. Seems kinda odd that they say they want to de-dollarise the country, then they flood the market with greenbacks. ( Unless this is another attempt to pull in large dinar notes, which I personally doubt, as I think enough "in country" large notes to satisfy them have already been pulled in). Iraq would make one hellova reality show. rsskelton, I said exactly the same thing to one of my patients this afternoon! Link to comment Share on other sites More sharing options...
WallyWeaver Posted May 4, 2012 Report Share Posted May 4, 2012 Not seeing now this relates to Wall Street. I think this may have been posted in the wrong section. WW. 1 1 Link to comment Share on other sites More sharing options...
GotSix Posted May 4, 2012 Report Share Posted May 4, 2012 (edited) Whatta .....5/2/12 ..is over 3 months ago.... Edited May 4, 2012 by GotSix 2 2 Link to comment Share on other sites More sharing options...
zigmeister Posted May 4, 2012 Report Share Posted May 4, 2012 I am pretty sure I am sick of Iraq and the CBI. 1 Link to comment Share on other sites More sharing options...
So.Cal Dinar Posted May 4, 2012 Report Share Posted May 4, 2012 I 2nd that Zig. Fnnnnnnn ridiculous . Link to comment Share on other sites More sharing options...
Texas1 Posted May 4, 2012 Report Share Posted May 4, 2012 rsskelton, I said exactly the same thing to one of my patients this afternoon! Its good to have patients in this investment. I gather your a butt dermatologist from your avatar name. Interesting field......a lot of booty calls I imagine. 1 Link to comment Share on other sites More sharing options...
fancy Posted May 4, 2012 Report Share Posted May 4, 2012 (edited) I am pretty sure I am sick of Iraq and the CBI. Man I agree, what a freakin ride. Hang on bud, it's gotta end sometime Edited May 4, 2012 by fancy 1 1 Link to comment Share on other sites More sharing options...
cashman54 Posted May 4, 2012 Report Share Posted May 4, 2012 Does someone actually know if they are reducing the Dinar supply or the opposite? I thought they want the citizens to have dinars? This would mean this auction is bad for our investment right? Link to comment Share on other sites More sharing options...
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