CBI Currency Auction - Sunday, 13 October 2013

[ronscarpa]

Another double Auction.  It does appear that they are covering the days of their Eid Feast.by having the second auction...!  Have a great Sunday .... RON   

 

Currency Auctions

Announcement No. (2504)

 

The latest daily currency auction was held in the Central Bank of Iraq on Sunday, the 13-Oct-2013 . The results were as follows:

 

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

 

Number of banks ----------------------------- 20

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

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

Amount sold at auction price (US$) ------- 227,163,000

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

Total offers for buying (US$) --------------- 227,163,000

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

 

---------------------------------------------------------------------------------------------------------------------------------------------

 

 

Announcement No. (2505)

 

The latest daily currency auction was held in the Central Bank of Iraq on the 15-Oct-2013 and who carried on Sunday, 13-Oct-2013. The results were as follows:

 

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

 

Number of banks ---------------------------- 16

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

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

Amount sold at auction price (US$) ------- 146,980,000

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

Total offers for buying (US$) --------------- 146,980,000

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

 

Exchange rates

Dollar's exchange rates / in Baghdad markets

 

[dinarbeleiver]

Ron am I right in thinking that the cbi has never had a double auction done until now. I am sure they have not bothered in the past so why now? Could this be the start of the new mechanism that the cbi has been talking about for months. Thanks for the post Ron.

[yota691]

Thanks Ron...+ Central bank sales rise to more than $ 227 million

 

    10/13/2013 - 15:22 | Source:         Economy and Business     126 views       Editor:    Ammar al-Ani  

 

 

    Alsumaria News / Baghdad 
recorded sales of Central Bank of Iraq, Sunday, up to more than 227 million dinars, compared to the day on Saturday, which recorded sales in which $ 165 million. saw session, today, a rise in bank sales to reach 227 000 163 thousand dollars , has been covered by the bank at an exchange rate basis amounted to 1166 dinars to the dollar, compared to the day on Saturday, reaching sales of the bank 165 000 470 thousand dollars. distributed demand by 149 000 318 thousand dollars in the form of remittances and by 66% for the remainder, amounting to 77.845 million dollars in cash, was to cover all the demand by the bank in full, and the exchange rate was 1179 dinars per dollar, including the bank's commission of 13 dinars per dollar, while not progressing banks of 20 participating in the auction CBI any offers to sell the dollar. The Rasheed Bank of more banks buy foreign currency, reaching asked to buy 107.625 million dollars, followed by the Gulf Bank and by $ 19 million. , founded the Iraqi Central Bank as a bank independent under its law issued on the sixth of March of the year 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and being sessions daily for buying and selling currencies.
 

Edited October 13, 2013 by yota691

[uncirculd]

I missed this.  They have been having 2 daily auctions I gather.  And their reserves are rising in all the banks.  If this is so, they are complying with what Shabibi was saying they had to do or merge.  So, it's another stepping stone of the banks being ready.  Or maybe even a confirmation.  That's just what I get.  And it could also be a way to pick up the 3 zero notes.  Never the less, it's very interesting to keep an eye on.  I am no economist and I surely ain't a math major, but it's logical.  

[dinarbeleiver]

Thanks yota this could be major news

'the implementation of monetary policy, ' wow,wow

[SnowGlobe7]

yota...what is your opinion on this?

[yota691]

yota...what is your opinion on this?

I best Keep it to myself...but I did Love your  SnowGlobe's    

Edited October 13, 2013 by yota691

[SnowGlobe7]

thank for all you do sir

[yota691]

Same read little different...

BAGHDAD - A citizen's recorded sales of the Iraqi Central Bank increased to more than 227 million dinars, compared to the day on Saturday, which recorded sales in which $ 165 million has seen a session on Sunday, a rise in bank sales to reach 227 000 163 thousand dollars, have been covered by the bank

Written by: Citizen newspaper | | Hits: 9

User Rating:   / 0 

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BAGHDAD - A citizen's 
recorded sales of the Iraqi Central Bank increased to more than 227 million dinars, compared to the day on Saturday, which recorded sales in which $ 165 million has seen a session on Sunday, a rise in bank sales to reach 227 000 163 thousand dollars, have been covered by the bank basis of the exchange rate was 1166 dinars to the dollar, compared to the Sabbath, as bank sales amounted to 165 000 470 thousand dollars. And distributed demand by 149 000 318 thousand dollars in the form of remittances and by 66% for the remainder, amounting to 77.845 million dollars in cash, was to cover all the demand by the bank in full, and the exchange rate was 1179 dinars per dollar, including the bank's commission of 13 dinars per dollar one, while not progressing banks of 20 participating in the auction CBI any offers to sell the dollar. The Rasheed Bank of more banks buy foreign currency, reaching asked to buy 107.625 million dollars, followed by the Gulf Bank and by $ 19 million. The Central Bank of Iraq was established as an independent bank under its law issued on the sixth of March of the year 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and being sessions daily for buying and selling currencies

Edited October 14, 2013 by yota691

[ronscarpa]

Ron am I right in thinking that the cbi has never had a double auction done until now. I am sure they have not bothered in the past so why now? Could this be the start of the new mechanism that the cbi has been talking about for months. Thanks for the post Ron.

 

Hi dinarbeliever......to answer your question....I don't believe so...!  I've been in this investment for almost 6 years, and have followed the CBI auctions since 2010, and this is the first time I've ever noticed two auctions on the same day (Thursday, Saturday & Sunday) - representing two different dates.  It will be interesting to see if they continue two auctions on Monday, the 14th.   

Thursday, 10 October - for !0 Oct - and 17 Oct

Saturday, 12 October - for 12 Oct - and 19 Oct

Sunday, 13 October - for 13 Oct - and 15 Oct

 

Thanks for the great articles YOTA...much appreciated (+2)   

[sandfly]

THANKS

[jeepguy]

THANKS

no thanks       good to see ya back  sandfly  ,   I hear tell  you had a  new  addition to the family { congratulations } 

[SocalDinar]

And another double Auction today held in the future.

Announcement No. (2506)

The latest daily currency auction was held in the Central Bank of Iraq on the14-Oct-2013 . The results were as follows:

 

Details Notes Number of banks 20 Auction price selling dinar / US$ 1166 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 221,570,000 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 221,570,000 Total offers for selling (US$) -----

 

 

Announcement No. (2507)

The latest daily currency auction was held in the Central Bank of Iraq on the16-Oct-2013 and who carried on 14-Oct-2013. The results were as follows:

 

Details Notes Number of banks 16 Auction price selling dinar / US$ 1166 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 132,622,000 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 132,622,000 Total offers for selling (US$) -----

 

http://www.cbi.iq/index.php?pid=CurrencyAuctions

 

 

 

Exchange rate PDF shows No Auctions No auctions october 15th through the 19th?

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