Rise in central bank sales in the auction today to more than 174 million dollars

[yota691]

Rise in central bank sales in the auction today to more than 174 million dollars

Thursday, July 22, 2014 14:11

 

[baghdad - where]

 

Sales of the Central Bank of the dollar in the auction on Tuesday to more than 174 million dollars after it reached on Monday 101.354 million dollars.

 

According to a statement of the bank received by all of Iraq [where] a copy of the "size of the amount sold by the bank at the auction of the dollar today reached 174 million and 349 000 dollars at the exchange in 1166 dinars to the dollar contribution of 12 banks"

 

He pointed out that "the quantity sold in cash amounted to 73 million and U.S. $ 750 000, and the quantity sold Khawwalat amounted to 100.599 million dollars."

 

The statement added that "the price of the sale of remittances in 1187 dinars to the dollar, including the commission's central bank in the amount of 21 dinars per dollar, and the cash sales price of U.S. $ 1190 dinars, while the total cash sales price of U.S. $ 1190 dinars to the dollar, including the commission's central bank in the amount of 24 dinars per dollar."

 

The statement said that "the Iraqi Central Bank continues to buy and sell at a price of 1166 dinars to the dollar and receive a commission of the above themselves." Ended.

 

[sandfly]

THANKS

[calkid11]

Thank you

[ronscarpa]

Currency Auctions
Announcement No. (2729)

The latest daily currency auction was held in the Central Bank of Iraq on Tuesday, the 22-07-2014. 
The results were as follows:

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

Number of banks 12
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ -----
Amount sold at auction price (US$) 174,349,000
Amount purchased at Auction price (US$) -----
Total offers for buying (US$) 174,349,000
Total offers for selling (US$) -----

Exchange rates

Thanks Yota..(+1)   

Another high auction when considering only 12 banks participated....that's $14,529,083 per bank...!    

[WISKY291]

Thanks Yota & Ron. It's a big one.

[chinadawg]

exchange rate 1212.extremely close to 2%......dropped from 1217 a week ago., good to see.

[Artitech]

What does this mean?

[chinadawg]

What does this mean?

 the IMF compliance calculation, with 1202 being the denominator we're looking for for compliance.

[sportfisher]

What does this mean?

nothing.

[skeetdog]

Thanks Ron...Good call ''sportfisher''.... No runs, No hits and we've quit counting the errors...

[chinadawg]

nothing.

 

 

So, do you think the 2% spread that the IMF requires is not important for our investment ??

[sportfisher]

So, do you think the 2% spread that the IMF requires is not important for our investment ??

 

this is a currency speculation, not an investment.

the "large" auction volume, is not large at all, but normal fluctuating amounts of foreign currency (USD) being sold to banks for IQD in return.

the CBI rate has not changed.......................the street rate fluctuates.

Until there is a substantial improvement in the CBI's exchange rate..............it means nothing.

[gymrat76541]

I like that the Kurds are paying their salaries in US dollars instead of dinars!

 

You do NOT want to pay in currency, that when it RV's, makes them too rich to go back to work!

[chinadawg]

I respectfully disagree that it means nothing, If it is true that the cbi needs to become article 8 and they are required to to be within the 2% spread to become article 8 then then it does mean something to be at 1212 instead of 1215 or 1217 when the goal is 1202.

 

2722

/

2723

15-Jul 1,215 1,166 385,604 107,010 278,594

2724 16-Jul 1,215 1,166 210,626 116,505 94,121

2725 17-Jul 1,215 1,166 172,713 42,095 130,618

18-Jul NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION

19-Jul NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION

2726

/

2727

20-Jul 1,212 1,166 235,008 58,855 176,153

2728 21-Jul 1,212 1,166 101,354 18,450 82,904

2729 22-Jul 1,212 1,166 174,349 73,750 100,599

Edited July 22, 2014 by chinadawg

[sportfisher]

street rate was 1210 in june, went back down to 1212.........wrong way.

look back at the history http://www.cbi.iq/documents/CBI_FOREIGN_EXCHANGE_AUCTIONS.pdf

there are many occasions where the street price and the exchange rate are almost the same..................go look.

means nothing 

           

[Artitech]

Thanks everyone, for your very insightful Information. DV memebers your the greastest. Thanks again for helping this ole knothead Texan understand!

[chinadawg]

street rate was 1210 in june, went back down to 1212.........wrong way.

look back at the history http://www.cbi.iq/documents/CBI_FOREIGN_EXCHANGE_AUCTIONS.pdf

there are many occasions where the street price and the exchange rate are almost the same..................go look.

means nothing 

       

 

I understand that I look at it everyday, your are correct it was 1210 in june, but then it rose to 2117 3 weeks ago, then it dropped to 1215, now it has dropped to 1212........so, we are again heading in the right direction................I think your glass is half empty, not half full...........good day sir.

Edited July 23, 2014 by chinadawg

[Furbrain]

At this point I would gladly take a half empty glass... my glass is bone dry.

[sportfisher]

I understand that I look at it everyday, your are correct it was 1210 in june, but then it rose to 2117 3 weeks ago, then it dropped to 1215, now it has dropped to 1212........so, we are again heading in the right direction................I think your glass is half empty, not half full...........good day sir.

you don't know anything about my glass 

 

street 1212  cbi 1166  currently

street 1640  cbi 1640  jan 2004  it was the same then

street 1372  cbi 1375  jan 2004  street had higher value than cbi

 

why didn't it RV then?

 

street 1481  cbi 1479  apr 2006

 

there are hundreds more examples

 

with your theory, the cbi won't move until the market rate runs significantly higher, but it's not even close now. You don't think that's important?

           

[vomer]

Really, nothing is important.  Not even an RV. Everything is insignificant.  Everything is nothing.  Because we are existentialists.   

[sportfisher]

I understand that I look at it everyday, your are correct it was 1210 in june, but then it rose to 2117 3 weeks ago, then it dropped to 1215, now it has dropped to 1212........so, we are again heading in the right direction................I think your glass is half empty, not half full...........good day sir.

when they raise the price of premium gasoline at your local station to 4.99/gal, do you get all giddy when they lower it to 4.89/gal ?          

[chinadawg]

you don't know anything about my glass 

 

street 1212  cbi 1166  currently

street 1640  cbi 1640  jan 2004  it was the same then

street 1372  cbi 1375  jan 2004  street had higher value than cbi

 

why didn't it RV then?

 

street 1481  cbi 1479  apr 2006

 

there are hundreds more examples

 

with your theory, the cbi won't move until the market rate runs significantly higher, but it's not even close now. You don't think that's important?

           

didn"T  RV because it is not article 8 compliant, but it is closer to being compliant at 1212 than 1217...............my opinion, I"m intitled to one...............Your smart comments are nothing but negative energy, very reflective of you.

[Tripphood]

China is correct....The CBI is actively trying to maintain the rate to within 2% according to the IMF requirements. They must do so in order to prove to the IMF that they can in fact control their currency. In doing so they will be allowed to move to Article 8.

[sportfisher]

negative energy

oh, you're one of those.....................              

didn"T  RV because it is not article 8 compliant, but it is closer to being compliant at 1212 than 1217...............my opinion, I"m intitled to one...............Your smart comments are nothing but negative energy, very reflective of you.

just keep denying the facts.........it's ok 

[chinadawg]

oh, you're one of those.....................              

No not really, just do not care much for negative people in general.

China is correct....The CBI is actively trying to maintain the rate to within 2% according to the IMF requirements. They must do so in order to prove to the IMF that they can in fact control their currency. In doing so they will be allowed to move to Article 8.

 

thanks Tripp.