Currency Auctions Central Bank of Iraq on the 9-SEP-2012.

[yota691]

Currency Auctions

Announcement No. (2209)

The latest daily currency auction was held in the Central Bank of Iraq on the 9-SEP-2012. The results were as follows:

DETAILS NOTES

Number of banks 33

Auction price selling dinar / US$ 1166

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

Amount sold at auction price (US$) 322,325,000

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

Total offers for buying (US$) 322,325,000

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

Exchange rates

Dollar's exchange rates / in Baghdad markets http://www.cbi.iq/index.php?pid=CurrencyAuctions

[TrinityeXchange]

wow!

[Butifldrm]

WOW is right, that's a whole lotta hard currency

[unirod]

Maybe the Iraqi's are busy buying gold?

[dontlop]

my question is .. if they are selling dinars, exchanging them what ever .. wheres the billion to a billion and a half dollars coming from each week ?

the govt is the only one with that kind of money ,, so is the cbi selling dinars to the govt . which is the oil money they take in ?.. the dollars flow in from oil sales ,, the cbi exchanges , or sells dinars to the central govt . and the cbi retains the dollars as currency backing for the dinars they just sold ?,, whos doing the buying .. they always say this many banks or that many banks participated in the auction .... so where are the dollars coming from .. they have been above a billion dollars a week for some time now ..or a trillion dinars a week how ever ya look at it .. selling dollars or selling dinars ..

[rockfl9]

Dontlop;;;; The MOF gets dollars from sale of oil.. They are tranferred to the ICB to SELL for dinars to pay the GOI bills, salaries ,etc....this is 95% of the cash flow in Iraq...IF the MOF happens to take in more from oil sales it would probably hold them as dollars BUT I dont think that is verry much...They are spending ALL that is comming in! Almost BROKE...

[yota691]

Must been a correction on the CBI for Sept, 9 2012 compared to the one at the top!! Currency Auctions

Announcement No. (2209)

The latest daily currency auction was held in the Central Bank of Iraq on the 9-SEP-2012. The results were as follows:

DETAILS NOTES

Number of banks 32

Auction price selling dinar / US$ 1166

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

Amount sold at auction price (US$) 310,325,000

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

Total offers for buying (US$) 310,325,000

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

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

Dollar's exchange rates / in Baghdad markets http://www.cbi.iq/index.php?pid=CurrencyAuctions

Edited September 10, 2012 by yota691

[Rubberband King]

Thanks for the post Yota.

Leggo RV!

[rockfl9]

Interesting!! would like to know if 1 bank simply withdraw OR did the CBI cancel it because of those new reporting regs?