Central bank sales rise at an auction today to $ {69} million dollars

[yota691]

Central bank sales rise at an auction today to $ {69} million dollars

History of edits:: 2.4.2015 4:10 p.m. • 1 visits readable

{Baghdad: Euphrates News} CBI sales rose slightly in the auction for the sale of foreign currency on Wednesday to more than $ 69 million after sales yesterday were 64 million and $ 505 thousand.

According to a statement of the bank and agency {Euphrates News} received a copy of it on Wednesday that "the amount sold size by the bank at the auction of the dollar today reached 69 million and 611 000 dollars at 1166 dinars exchange rate against the dollar one and with the participation of 23 banks," pointing out that "the quantity sold Cash amounted to 10,000,515 thousand dollars, and the quantity sold Khawwalat amounted to 59 million and 96 thousand dollars. " 
He said the "the Iraqi Central Bank to continue buying and selling dollars at 1166 dinars," noting that "the sale of remittances in 1187 JD / dollar rate, including the commission of the Central Bank of $ 21 dinars per dollar, with total cash sales price of $ 1190 JD / dollar, including the commission of the Central Bank of 24 dinars per Dolar.anthy

[wbuse984]

Like the low amount of sales at the CBI auctions...I think this is a positive sign...thanks again Yota :bump:

[yota691]

Slightly higher sales for the central bank in the auction today to reach $ 69 million
Wednesday, February 4, 2015 13:02

 

 

[baghdad-where]

 

CBI sales rose slightly in the auction for the sale of foreign currencies on Wednesday to more than $ 69 million after sales yesterday were 64 million and 505 000 dollars.

 

According to a statement of the bank received by all of Iraq [where] a copy of the "amount sold by the bank the size of today's auction at the price of the dollar stood at 69 million and 611 000 dollars at 1166 dinars to the dollar exchange rate and the one with the participation of 23 banks."

 

He pointed out that "the quantity sold in cash amounted to 10.515 million dollars, and the quantity sold Khawwalat amounted to 59 million and 96 thousand dollars."

 

The statement said that "the Iraqi Central Bank to continue buying and selling dollars at 1166 dinars," adding that "the sale of remittances price 1187 JD / dollar, including the commission of the Central Bank of 21 dinars per dollar, with total cash sales price of $ 1190 JD / dollar, including the commission Bank Central of 24 dinars per dollar. "

 

The central bank has sold in the past month, more than $ 2.8 billion.

 

It is expected that the dollar sales decline in the auction for this year, according to the law of the state budget, which began in Parliament on 29 January last is expected to be published in the coming days after the presidency authentication to put into practice.

 

The law stipulates that the central bank is committed to identifying sales of hard currency [dollar] in the daily auction ceiling does not exceed $ 75 million a day with the exercise of justice in the sales process, and calls for participating in the auction the bank providing the introduction of cargo documents and statements of tax settling accounts and savings Alkmarki within 30 days from the date of buy it for the amount and otherwise apply to the bank penalties stipulated in the Central Bank Act or regulations issued it, and use other banking tools to maintain the strength of the dinar against the dollar.

 

It was not known if the price of the Iraqi dinar will be affected by the application of this Article Observers fear that the lack of supply of the dollar in the markets will lead to a high price in dinars and is well known that the official price of the dollar is 1166 dinars while sold in the market at a price ranging at a rate of 1230 Danara.anthy

[captl1]

If I remember correctly this is what Doc31 was referring to.

[wbuse984]

They are saying slightly higher sales at 69million, hmmm...they were doing auctions at 170M not so long ago, gee...wonder what changed (tongue in cheek)...again, news along these lines I think is a good indicator something is up in Iraq, but who knows...

[captl1]

It seems with the fear of a rising dinar in price the only way to combat that is to raise the value of the dinar to at least 1 to1 to elevate the fear in the market place and facilitate the removal of the dollar.  jmo

[wbuse984]

captl1 I agree, it seems like the perfect storm is forming...it seems that the Parliamentary legislation is very focused on the Financial/Economic issues (HCL especially)...it would be nice to see some passage of laws pic up pace, and not just yakking about it over there...

[captl1]

Would love to know what is going on behind closed doors in these meetings.

[yota691]

 Central Bank check sales rose slightly in today's auction

04/02/2015 04:25 | Number of Views: 2

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Baghdad / FS

CBI sales rose slightly in the auction for the sale of foreign currencies on Wednesday to more than $ 69 million after sales yesterday were 64 million and 505 000 dollars.

According to a statement of the bank received  a copy of the "size of the amount sold by the bank on the auction price of the dollar stood at 69 million and 611 000 dollars at 1166 dinars to the dollar exchange rate and the one with the participation of 23 banks."

He pointed out that "the quantity sold in cash amounted to 10.515 million dollars, and the quantity sold Khawwalat amounted to 59 million and 96 thousand dollars."

The statement said that "the Iraqi Central Bank to continue buying and selling dollars at 1166 dinars," adding that "the sale of remittances price 1187 JD / dollar, including the commission of the Central Bank of 21 dinars per dollar, with total cash sales price of $ 1190 JD / dollar, including the commission Bank Central of 24 dinars per dollar. "

The central bank has sold in the past month, more than $ 2.8 billion.

It is expected that the dollar sales decline in the auction for this year, according to the law of the state budget, which began in Parliament on 29 January last is expected to be published in the coming days after the presidency authentication to put into practice.

The law stipulates that the central bank is committed to identifying sales of hard currency in the daily auction ceiling does not exceed $ 75 million a day with the exercise of justice in the sales process, and calls for the participant bank in the auction provide goods enter documents and statements of tax settling accounts and savings Alkmarki within 30 days from the date purchased for the amount and otherwise applied to the bank penalties stipulated in the Central Bank Act or regulations issued it, and use other banking tools to maintain the strength of the dinar against the dollar.

It was not known if the price of the Iraqi dinar will be affected by the application of this Article Observers fear that the lack of supply of the dollar in the markets will lead to a high price in dinars and is well known that the official price of the dollar is 1166 dinars while sold in the market at a price ranging at a rate of 1230 dinars.

[captl1]

They are making money..24 dinar per dollar x 69 million. Not a bad payday.

[staunch]

Yota, when did the commission go up from 13 to 1 ? Is this recently and what significance do you think it has?

[yota691]

Yota, when did the commission go up from 13 to 1 ? Is this recently and what significance do you think it has?

Been almost a year..they have two rates...21 and 24 to 1..depends on the type of transaction...

[bigwave]

They are saying slightly higher sales at 69million, hmmm...they were doing auctions at 170M not so long ago, gee...wonder what changed (tongue in cheek)...again, news along these lines I think is a good indicator something is up in Iraq, but who knows...

Thay may have been referring to yesterdays 65M.

[Texstorm]

Well I hope that they can get creative enough to pull an RV.....Like NOW ! 

[mr.unlikely]

Looks to me like dedollarization is going on and the rise In the street rate was predicted. IMO nothing to worry about. It's all part of the plan. Any time demand outweighs supply this is what happens. But notice even though the ceiling is 75 million a day the CBI is not selling that much. I find that interesting. Question is are the banks holding off buying dollars for fear or knowledge of a major rate change coming? Inquiring minds want to know

[Laid Back]

They are making money..24 dinar per dollar x 69 million. Not a bad payday.

The cash reserves continue growing.

They CBI is collecting more 000's notes.

Go CBI

Go new monetary policy

Go dinar

Go strong $1.13:1

[Officiallytook]

I remember lurking ... Reading someone's post... And they didn't make many for I don't know who it was...but they mentioned new gov laws changed gas prices gold silver stock pricing and low to 0 CBI auctions when it was about time to flip the switch... And honestly when I saw it it made since..but never saw how they could correlate all... And now I'm beginning to see...