Iraqi News CBI USD sales rising dramatically to 251 million

[k98nights]

CBI USD sales rising dramatically to 251 million

Translated by IRAQdirectory.com - [3/23/2010]

Sales went up by the CBI of the dollar in the auction for the sale of currencies, on Thursday, to reach largely $ 251 million versus $ 181 million during the previous session.

The bulletin issued by the CBI , that "the total volume of demand for the dollar stood at 251 million and 565 thousand dollars, covered by the central bank at the basis of 1170 dinars per dollar."

The figure rose significantly from the previous session recorded entirely to the sales volume reached 181 million and 850 thousand dollars at an exchange rate based on 1170 dinars per dollar.

The bulletin stated that the demand for the dollar, "distributed by 11 million and 990 thousand dollars in cash, covered by the CBI exchange rate was 1183 dinars per dollar, including his commission of $ 13 dinars per dollar."

While the "value of remittances outside Iraq, 239 million and 575 thousand dollars, covered by the CBI exchange rate was 1173 dinars to the dollar, including his commission's three dinars per dollar," the bulletin stated that " the 19 banks did not make any participating in the auction, offers to sell the dollar."

CBI held five meetings a week from Sunday to Thursday for the sale and purchase of foreign currencies.

http://www.iraqdirectory.com/DisplayNews.aspx?id=11983

[ClownSauce]

So they are selling the dollar??

[NotReallyTex]

Any input as to what this means?

[lost one]

so the Iraqies are selling off ther dollars?

[luckylucy]

Thanks for post ... now, could you explain how this auction works, please. I've been reading the auction as CBI auctioning dinars, using the USD as value. Per questions in chat and to this post, apparently others have some question. Pardon my ignorance.

An elementary explanation might be helpful, if you have time. Thanks!

lucky - ignorant - lucy:o

CBI USD sales rising dramatically to 251 million

Translated by IRAQdirectory.com - [3/23/2010]

Sales went up by the CBI of the dollar in the auction for the sale of currencies, on Thursday, to reach largely $ 251 million versus $ 181 million during the previous session.

The bulletin issued by the CBI , that "the total volume of demand for the dollar stood at 251 million and 565 thousand dollars, covered by the central bank at the basis of 1170 dinars per dollar."

The figure rose significantly from the previous session recorded entirely to the sales volume reached 181 million and 850 thousand dollars at an exchange rate based on 1170 dinars per dollar.

The bulletin stated that the demand for the dollar, "distributed by 11 million and 990 thousand dollars in cash, covered by the CBI exchange rate was 1183 dinars per dollar, including his commission of $ 13 dinars per dollar."

While the "value of remittances outside Iraq, 239 million and 575 thousand dollars, covered by the CBI exchange rate was 1173 dinars to the dollar, including his commission's three dinars per dollar," the bulletin stated that " the 19 banks did not make any participating in the auction, offers to sell the dollar."

CBI held five meetings a week from Sunday to Thursday for the sale and purchase of foreign currencies.

http://www.iraqdirectory.com/DisplayNews.aspx?id=11983

[gregg450]

Something is fixin' to happen.........I think!

[jmcsh49890]

I hope this means something...

[Chip Chandler]

luckylucy, I asked the same type of question in the CBI Daily Auction Post of 3/24/10. Still no answer from a member as of 12:50 am, 3/25/10

chip

[abonnie]

Thanks luckylucy

[krucialmix]

I guess no one really knows! But it sure is fun to post news, isn't it? lol.

[rich daniels]

i have someone in baqdad he has a business in flajua(sorry for the spelling) he has been there for quit a while. i will be talking to him tonight after 7pm my time hope to find out what is going on there on the ground, if i find any out i can verify i will post and see how it gives with what i have been hereing here