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Anymore about if the CBI is still not having auctions?


Deb45
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Haven't really seen anything today about if CBI is still holding firm on no Dollar auctions/transactions.

Yesterday it was all the twitter and they were having runs on the banks. Today just crickets.

Anyone???

Check out this thread..

http://dinarvets.com/forums/index.php?/topic/197852-central-bank-start-applying-the-new-system-of-remittances-and-sell-currency/#entry1504466

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Currency Auctions Announcement No. (2891)

The latest daily currency auction was held in the Central Bank of Iraq on the 19-02-2015 results were as follows:

 

Details Notes Number of banks 24 Auction price selling dinar / US$ 1166 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 85,993,000 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 85,993,000 Total offers for selling (US$) -----

 

 
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2-26-2015   Newshound Guru Tlar   The CBI made at the least a temporary strategic decision to start selling the dollar again to the banks to cover the remittance side of what was the auctions.  When they pushed the responsibility for remittances over to the independent banks and cut off the auctions at the same time, they essentially left the bank with few options and almost no way to obtain the hard currency needed to pay these imports with.  On the one hand they said you have to now pay for international orders and imports but we won't sell you the USD to be able to pay for it.  This immediately pressurized the system because potentially it stood to bring purchases to a stand still if not fixed.  

True or not I don't know. Just posting what I read.

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  • 2 weeks later...

I heard on some blog that ISIS was not allowing Dinar to leave Iraq and that is the reason for all the price increases and some dealers making people wait a week or two to get Dinar. Not sure if that is true or not but if so reminds me of what the cartels in Mexico were doing with limes a few months back when limes went from being like 20 for $1 to like almost a dollar a lime. It was the cartels behind that.

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