CBI Currency Auction 4/17/2013

[Gooserider67]

I have never seen the currency auctions as low as they are today, hopfully this is a good sign that this venture is coming to an end... The rate is the same but the Auction amount is getting less and less....

 

 

Currency Auctions:

 

Announcment No. (2358)

 

The latest daily currency auction was held in the Central Bank of Iraq on the 17- Apr-2013. The results were as follows:

 

 

DETAILS                                                                              NOTES

 

Number of banks                                                                 21

 

Auction price selling dinar / US$                                       1166

 

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

 

Amount sold at acution price (US$)                                  88,853,000

 

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

 

Total offers for buying (US$)                                              88,853,000

 

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

[King Bean]

Thanks for sharing Goose. I have not seen them get under 100 ever. Though it may have happened. Not sure if that means the amount of Dinar in banks and on the streets is almost all taken in by the CBI. Lets see what happens tomorrow ...

[sandfly]

THANKS

[PA10]

What I would like to see is a breakdown of the 'denoms' being auctioned. I assume 'currency auction' means buyers are taking possession of actual printed currency. Am I right or am I wrong? If the large notes are eliminated from CBI auctions, that would certainly explain the smaller auction amounts and provide some real proof that the 'project' to eliminate the 000's is under way. 

[yota691]

Note that:

• Price and cash transfers (1179) JD / dollar, including the central bank's commission of $ (13) dinars per dollar.
• The cash purchase price of U.S. $ (1171) JD / USD.

2. quantity sold in cash in the amount of $ 37.35 million and the quantity sold in the amount of remittances (503,000, 51) dollars.

3. receive the central bank a commission of 13 dinars per dollar, with a discount (8) JD / USD amounts purchased that is to say: the purchase price of the dollar cash = (sale price of the dollar cash - 8). 4.continue the Iraqi Central Bank buying and selling of the dollar The price (1166) and receive the same commission mentioned above. report on the exchange rates of the dollar in the markets of the city of Baghdad: Exchange Rates

2296 17-Apr 1,270 1,166 88,853 37,350 51,503

Year Date Market Price Auction Price Volume (000 USD) Cash Trans.

[ronscarpa]

Currency Auctions - Announcement No. (2358)

The latest daily currency auction was held in the Central Bank of Iraq on Wednesday, the 17-Apr-2013. The results were as follows:

DETAILS ---------- & ---------- NOTES

Number of banks 21
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ -----
Amount sold at auction price (US$) 88,853,000
Amount purchased at Auction price (US$) -----
Total offers for buying (US$) 88,853,000
Total offers for selling (US$) -----

Exchange rates
Dollar's exchange rates / in Baghdad markets

 

The sale of US Dollars has dropped dramatically in the past two days dropping to $88,853,000 today. Hopefully we are approaching the end of the USD sales, and the possibility of Re-Valuing the IQD, along with the release of the LD's (Lower Denominations).  Hang in there and be Blessed...!

 

RON   

[WISKY291]

I tried to by more Dinar from my dealer, and I couldn't. They were on back order. All the circulated is still on back order I never seen that before. The uncirculated 25k and 10k notes were also on back order. Yesterday I was able to purchase the 25k notes. I never seen that before.

 

They never in the past, ran out.

[SocalDinar]

Although there was many auctions in 2011 under $100 million this could be different.

 

Auction amounts are way down and obviously CBI has changed it's policy since Shabs departure.

 

 

Yesterdays Cash portion was HUGE. at $115 Million

 

Thanks Goose!

Edited April 17, 2013 by SocalDinar

[lionfish]

Thanks for the currency auction updates!!

 

-lionfish

[TQueezy]

It's been waaaay lower, like 7million or something. And all cash, no electronic transactions. So this is trending the right way, but far from low enough to spark real curiosity.