ronscarpa Posted October 31, 2013 Report Share Posted October 31, 2013 Currency Auctions Announcement No. (2518) The latest daily currency auction was held in the Central Bank of Iraq on Thursday, the 31-Oct-2013 . The results were as follows: DETAILS -------------------- & ------------------- NOTES Number of banks --------------------------------- 22 Auction price selling dinar / US$ -------------- 1166 Auction price buying dinar / US$ -------------- ----- Amount sold at auction price (US$) ---------- 185,732,000 Amount purchased at Auction price (US$) -- ----- Total offers for buying (US$) ------------------ 185,732,000 Total offers for selling (US$) ------------------- ----- Exchange rates Dollar's exchange rates / in Baghdad markets 2 Link to comment Share on other sites More sharing options...
ronscarpa Posted October 31, 2013 Author Report Share Posted October 31, 2013 Well everyone, lots of gurus think that November 1st will be a day to remember - so if that's so, this could be our last Daily Auction. We shall see - it would be nice, but I believe it is unlikely...! We still need to see specific Laws passed, and Erbil conditions implemented before the RV released. I hope they're right and I'm wrong, but time will tell. Have a great day everyone & be blessed.....RON 2 Link to comment Share on other sites More sharing options...
dontlop Posted October 31, 2013 Report Share Posted October 31, 2013 A day to remember that they called it for the last 5 years just about every day Lol Thanks Ron I see they are still infusing dollars into the private sector Another auction another 180 million to loan out and sell And exchange for govt spent dinar I wonder if an Iraqi goes to a bank and borrows a hundred million dinar or a hundred thousand dollars to buys house Around a billion dollars a week are going somewhere after they are auctioned off 2 Link to comment Share on other sites More sharing options...
SocalDinar Posted October 31, 2013 Report Share Posted October 31, 2013 Thanks Ron and Dontlop Just wondering what your take is on the Large cash portions of the auctions since Gov Shabibi left. I just ran some numbers of the auctions from Sept 15-October 31 2012 and 2013 There is a huge difference in the amount of the cash transaction while the overall auction amounts have gone down from last year. My addition is just approx since i just rounded the numbers. In 2012 this period the total auction amounts were Approx $8.2 Billion with approx $643 Million in cash About 7.8% Cash In 2013 the same period the total auction amounts were approx $6,8 Billion with approx $1.8 Billion in cash About 26 % Cash Why such a huge change? I've asked this question over and over but know one seems to know or wants to take a stab at an answer. Even with their growth rate the numbers dont add up. CBI has more controls in place for money laundering so i dont believe the increase is entirely that. Oil production is a bit better but total auctions down? They are not buying oil with this kind of cash anyway. I guess smuggling could be part of this but does not make since to me. _________________________________________________ Sept 15-October 31 2012 # Date MKT Auction Volume Cash Trans 2082 15-Sep NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2083 16-Sep 1,228 1,166 320,350 37,850 282,500 2084 17-Sep 1,228 1,166 294,375 18,375 276,000 2085 18-Sep 1,222 1,166 251,185 8,685 242,500 2086 19-Sep 1,216 1,166 237,131 8,625 228,506 2087 20-Sep 1,217 1,166 247,138 7,825 239,313 2088 21-Sep NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2089 22-Sep NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2090 23-Sep 1,214 1,166 259,061 34,245 224,816 2091 24-Sep 1,204 1,166 257,065 20,565 236,500 2092 25-Sep 1,208 1,166 223,430 8,700 214,730 2093 26-Sep 1,210 1,166 244,078 6,775 237,303 2094 27-Sep 1,212 1,166 241,225 2,225 239,000 2095 28-Sep NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2096 29-Sep NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2097 30-Sep 1,204 1,166 250,525 34,105 216,420 2098 01-Oct 1,199 1,166 259,220 22,220 237,000 2099 02-Oct 1,198 1,166 225,499 14,105 211,394 2100 03-Oct 1,203 1,166 233,146 13,750 219,396 2101 04-Oct 1,206 1,166 288,274 15,725 272,549 2102 05-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2103 06-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2104 07-Oct 1,205 1,166 289,700 46,200 243,500 2105 08-Oct 1,200 1,166 280,577 24,425 256,152 2106 09-Oct 1,200 1,166 319,574 16,700 302,874 2107 10-Oct 1,202 1,166 347,534 7,005 340,529 2108 11-Oct 1,200 1,166 299,740 14,325 285,415 2109 12-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2110 13-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2111 14-Oct 1,196 1,166 344,826 46,650 298,176 2112 15-Oct 1,200 1,166 294,992 27,100 267,892 2113 16-Oct 1,198 1,166 267,720 15,825 251,895 2114 17-Oct 1,200 1,166 288,480 29,480 259,000 2115 18-Oct 1,200 1,166 269,990 12,630 257,360 2116 19-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2117 20-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2118 21-Oct 1,199 1,166 217,000 43,000 174,000 2119 22-Oct 1,198 1,166 286,070 24,525 261,545 2120 23-Oct 1,198 1,166 238,699 25,428 213,271 2121 24-Oct 1,198 1,166 181,600 8,600 173,000 2122 25-Oct 1,196 1,166 189,096 9,846 179,250 2123 26-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2124 27-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2125 28-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2126 29-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2127 30-Oct 1,200 1,166 163,050 40,550 122,500 2128 31-Oct 1,194 1,166 130,649 6,825 123,824 Approx Total $ 8.2 Billion total auction $643 Million Cash _____________________________________________________ Sept 15-October 31 2013 # Date MKT Auction Volume Cash Trans 2447 15-Sep 1,205 1,166 164,411 14,000 150,411 2448 16-Sep 1,206 1,166 197,645 74,100 123,545 2449 17-Sep 1,206 1,166 178,373 59,705 118,668 2450 18-Sep 1,205 1,166 172,696 35,665 137,031 2451 19-Sep 1,208 1,166 133,890 20,740 113,150 2452 20-Sep NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2453 21-Sep 1,213 1,166 165,740 28,785 136,955 2454 22-Sep 1,212 1,166 173,643 72,335 101,308 2455 23-Sep 1,211 1,166 153,642 33,535 120,107 2456 24-Sep 1,219 1,166 185,826 65,641 120,185 2457 25-Sep 1,220 1,166 213,767 77,445 136,322 2458 26-Sep 1,221 1,166 131,317 25,135 106,182 2459 27-Sep NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2460 28-Sep 1,222 1,166 153,135 37,895 115,240 2461 29-Sep 1,222 1,166 205,378 80,295 125,083 2462 30-Sep 1,234 1,166 222,041 98,960 123,081 2463 01-Oct 1,220 1,166 186,390 62,550 123,840 2464 02-Oct 1,219 1,166 159,276 38,520 120,756 2465 03-Oct 1,220 1,166 122,473 19,735 102,738 2466 04-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2467 05-Oct 1,221 1,166 152,487 45,790 106,697 2468 06-Oct 1,220 1,166 174,777 62,665 112,112 2469 07-Oct 1,216 1,166 219,876 87,610 132,266 2470 08-Oct 1,212 1,166 192,030 53,635 138,395 2471 09-Oct 1,220 1,166 134,514 32,180 102,334 2472 10-Oct 1,220 1,166 294,124 32,975 261,149 2473 11-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2474 12-Oct 1,223 1,166 294,300 46,040 248,260 2475 13-Oct 1,220 1,166 374,143 77,845 296,298 2476 14-Oct 1,220 1,166 354,192 69,760 284,432 2477 15-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2478 16-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2479 17-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2480 18-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2481 19-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2482 20-Oct 1,222 1,166 153,244 10,025 143,219 2483 21-Oct 1,220 1,166 187,359 67,740 119,619 2484 22-Oct 1,210 1,166 141,749 30,500 111,249 2485 23-Oct 1,220 1,166 163,229 55,480 107,749 2486 24-Oct 1,225 1,166 66,881 47,925 118,956 2487 25-Oct NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION 2488 26-Oct 1,222 1,166 179,013 40,410 138,603 2489 27-Oct 1,220 1,166 192,956 61,445 131,511 2490 28-Oct 1,220 1,166 245,105 77,655 167,450 2491 29-Oct 1,220 1,166 194,081 56,425 137,656 2492 30-Oct 1,222 1,166 216,640 54,635 162,005 Approx Total $6.8 Billion total auction $1.8 Billion Cash http://www.cbi.iq/documents/CBI_FOREIGN_EXCHANGE_AUCTIONS.pdf 1 Link to comment Share on other sites More sharing options...
dontlop Posted November 1, 2013 Report Share Posted November 1, 2013 I don't know either I wonder if some banks request so much cash because they have customers that are requesting cash like currency traders Its the cbi who's selling the dollars The banks may be accepting electronic dollars for uses like importing The state owned banks are also buying the dollars and I'm starting to think the state banks may be paying international debts electronically Those funds are then transferred to accounts overseas Like to oil company's abroad Iraq has lots of work contracted out to lots of company's in lots of different country's The dollar may be converted in those country's but the dinar isn't Cash seems like it would be for local uses Who uses dollars in Iraq The Kurds like the dollars When the new dinar includes Kurdish language that could change things But I really don't know I just look how much the goi is auctioning off I read the dollars are issued to banks and banks make loans to the Iraqis Like for diary farming needs Then the Iraqis who may get dinar from the govt in pay or welefare buy those products with those dinar And the dairy farmers deposit the dinar and the govt buys them back with new dollars and it just keeps repeating every day Ya figure 30 million Iraqis If they spend 5 dollars a day each that's 150 million dollars a day they need just to operate the local economy But 150 million a day isn't enough That's less than 2 dollars each for a meal 3 times a day 6 dollars a day would be 180'million dollars a day. Just to eat They got to pay rent Pay utilities Buy clothes Buy cars Buy gasoline Buy furniture Ect Ect Operating costs in Iraq is a big expenditure I'd say at least 10 dollars a day 300 million a day So I believe there's a lot of dollars that just circulate in Iraq Lots of dinar too The GDP is around 250 billion in Iraq That's around 8500 per capita So around 25 dollars a day per capita average or around 750 million a day operating costa So money circulates Since Iraq only makes around 300 million a day in oil sales And the govts spends a pile over seas out of that On all kinds of things including paying Kuwait a billion or two every so often 2 Link to comment Share on other sites More sharing options...
SocalDinar Posted November 1, 2013 Report Share Posted November 1, 2013 Well we know the CBI is doing well financially with the auctions so I can't see them wanting to end the auctions without another revenue source. Just seems like they were on a controlled path with Shabs and since his removal their has been increasing amounts of Cash Trans at the auction. The US dollar is obviously in high demand and probably helping to keep the market rate down. What are the expected effects to exchanging these kinds of cash amounts? Funny how they update the auctions everyday but still can't get the Home page updated to show the true reserve amounts. Anyway have a great Halloween! Gotta get ready to scare the neighborhood kids. 1 Link to comment Share on other sites More sharing options...
uncirculd Posted November 1, 2013 Report Share Posted November 1, 2013 I kind of look at it as cooking. You can't make a great recipe without all the ingredients. So, once all this comes together, we will have a great recipe. We need, Erbil (power sharing), Fed Council, HCL, economic investment laws, and Amnesty. We will never know everything or when they complete things, but we have the best newshounds her at DV. I figure they will keep things in the dark or just flat out not tell the truth and all of a sudden it will be cooked and ready to eat. Then it's fiesta time. Maybe we are a so much more informed and realized that 2, 3 years ago it just appeared to be ready. But now, it's around the corner. Whether it works out to be what we expected or not. But, at least we shall know in the near future. And that means a few years in Iraqi terms. So, maybe, just maybe someone there will see the sense of urgency and move on the near future the American way and ger er done! 1 Link to comment Share on other sites More sharing options...
ronscarpa Posted November 1, 2013 Author Report Share Posted November 1, 2013 Thanks Don't Lop, SocalDinar & Uncirculd ... Good stuff (+1 or +2 each) Have a great evening everyone .. let's pray something great really happens tomorrow... RON 2 Link to comment Share on other sites More sharing options...
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