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End of This Month is the Last Currency Auction


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yeah - NOt likely ...

 

Currency Auctions Announcement No. (3148)

The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 1/3/2016 and the results were as follows:

 

Details Notes Number of banks 32 Number of remittance companies 19 Auction price selling dinar / US$ 1182 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 118,240,491 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 118,240,491 Total offers for selling (US$) -----
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Another today ...

 

Currency Auctions Announcement No. (3149)

The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 2/3/2016 and the results were as follows:

 

Details Notes Number of banks 32 Number of remittance companies 20 Auction price selling dinar / US$ 1182 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 110,748,491 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 110,748,491 Total offers for selling (US$) -----
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Someone chime in if you remember, last year sometime, they didn't have auctions for about 10 days ??? then they started up again. I'm feeling we need to see them end, and a new dinar/usd rate at the same time for this to be significant.

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Someone chime in if you remember, last year sometime, they didn't have auctions for about 10 days ??? then they started up again. I'm feeling we need to see them end, and a new dinar/usd rate at the same time for this to be significant.

 

Yep that's what I am thinking also King Bean.  With the auctions dipping lower and lower I think that is a good sign of them ending shortly.  (Notice I didn't say soon.)  :lol:

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On 3/12/2016 at 4:28 PM, jg1 said:

Ya, they have said they were going to stop them a few times, but cant cut away from the money income from the auctions, kinda like Crack I guess. 

In 2015, around January the auctions started to dwindle but never really were cut off. The Budget that was passed in February set a cap on the amount the auction could sell. The powers that be had a very hard time with this low number and it wasn't until like a couple months later that this cap was completely disregarded and they were back into full swing of things. Lol a lot of people said was going to RV. The CBI couldn't handle the loss at a time oil prices were much higher than they were today - around the 40 to 50 USD mark. Now people are saying the auctions are going to stop... not a snowball's chance in hell will that happen at this point in time. There will be no RV this year cause the fat lady hasn't even entered the building yet let alone warming up. 

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