Dinar Buddy Posted August 7, 2013 Report Share Posted August 7, 2013 Proof by the Iraqi Economists Network states the CBI Auctions are for OIL sales. The auctions has noting to do with pulling IQD's or USD's off the street. Central Bank’s foreign exchange auction Let us note, first, that in spite of what is termed ‘auction’, Iraq, like most oil exporting countries in the region, has been following fixed-exchange-rate arrangement (to US$) since the beginning of 2009. Furthermore, let us refer to auction rate of exchange as ‘official’ rate to distinguish it from ‘market’ rate; which is used by banks and money exchangers. Link: http://iraqieconomists.net/en/2013/02/24/foreign-exchange-auction-international-reserves-and-central-bank-independence-in-iraq-by-ali-merza/ 2 Link to comment Share on other sites More sharing options...
keepmwlknfny Posted August 7, 2013 Report Share Posted August 7, 2013 You should email all this to our fav gurus!! = ) 3 4 Link to comment Share on other sites More sharing options...
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