Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

CBI - Biggest auction ever.


 Share

Recommended Posts

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?

  • Upvote 4
  • Downvote 3
Link to comment
Share on other sites

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

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.

  • Upvote 2
Link to comment
Share on other sites

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

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....

  • Upvote 7
  • Downvote 5
Link to comment
Share on other sites

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. :rolleyes: "($) (000, 524, 121) and total sales promotions ($) No. " You can look at the article for verification from the original link. Just mho

Link to comment
Share on other sites

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

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

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! :D

Link to comment
Share on other sites

rsskelton, I said exactly the same thing to one of my patients this afternoon! :D

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.

  • Upvote 1
Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.


  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.