CBI Currency Auction - Wednesday, 18 September 2013

[ronscarpa]

Currency Auctions

Announcement No. (2481)

 

The latest daily currency auction was held in the Central Bank of Iraq on Wednesday, the 18th-Sep-2013 . The results were as follows:

 

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

 

Number of banks ------------------------------ 19

Auction price selling dinar / US$ ------------ 1166 

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

Amount sold at auction price (US$) -------- 172,696,000 

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

Total offers for buying (US$) ---------------- 172,696,000 

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

 

Exchange rates

Dollar's exchange rates / in Baghdad markets

 

[waterman13]

Thanks Ron, same ole, same ole.

WM13

[Yukon Silvermoon]

Well, interestingly enough, I checked Oanda this morning, and the Dinar exchange rate is around 1141/dollar.  Just a tidbit of information.  Why would the currency auction still be doing 1166/dollar?

[waterman13]

Yukon, I check a forex site everyday. Many times it's at 1141 or so. http://forex.tradingcharts.com/foreign_exchange_rates/custom_forex_quotes.html?sQSyms=USDIQD%2CEURUSD%2CGBPUSD%2CCHFUSD%2CAUDUSD%2CUSDMXN%2CUSDUAH%2CUSDJPY%2CUSDCNY%2CUSDCOP%2CCADUSD%2CUSDVND&btnFinished=Finished%3A+Display+Favorite+Quotes

Right now at 1140.4000

Months ago they added two decimal places after the decimal point, for years used to read 1166.00 now they have four decimal places. They did that on the Dong too.

WM13

Edited September 18, 2013 by waterman13

[Yukon Silvermoon]

I guess it's just above my level of understanding.  Never mind. 

[Dinar Buddy]

The CBI is an energy auction.  It is the price received for oil sales to local regional countries.  The spread is very slight to allow the CBI to generate revenues.  The Forex or other similar sites create rates that engage invenstors or speculators.  It is very similar to US Stamps.  How can grocery stores sell them for the same price as the post office.  Retail pricing, vs dealer pricing.

 

Very difficult to pin down.