In suspicious financial policy; more than 15 billion dollars and 225 million sold by the Iraqi Central Bank to banks within six months

[yota691]

In suspicious financial policy; more than 15 billion dollars and 225 million sold by the Iraqi Central Bank to banks within six months

June 17, 2016 12:24

 

 

 

 

 

 

 

Iraqi Central Bank announced on Thursday its sales decline for the banks compared to last year to nearly 900,000 dollars.

The bank said in a statement that "sales of the dollar banks reached since the beginning of this year until today 's 15 billion and 225 788 000 and $ 617." 
The bank said that "this amount increased from what it was on the same date last year in 2015 in which sales were 14 billion and 329 180 000, and $ 574 , "he said , adding that" the sale of the amounts transferred to accounts in banks abroad , the price is 1190 dinars per dollar, while cash sales price of 1190 dinars per dollar. "

[jeepguy]

the amount of dinar sales ?   is  close too 16 billion       are they  meaning  ,  countries governments  are buying up dinar ,  or   I  wonder  ,  are the  speculators  getting ramped up ?  { if  Iraq is getting speculator  impulse  buying  ,  why would they  keep  dinar  at  1190 ?   they  could get  3  u.s.dollars   for  1   dinar   just as  easy  and  with out breaking  a sweat  }  so   I  ask  who is  buying  up  tons of  dinar  ?      and  why  don`t  they  ramp up  dinar values  ? 

[yota691]

Daily auctions....Comparison from last year... 

 

The central bank for the banks sales decline compared with last year to 900 thousand dollars

 

The Central Bank of Iraq, Thursday, lower sales for the banks compared to last year to nearly 900 thousand dollars.   The bank said in a statement: "Economy News" received a copy of it, that "sales of the dollar banks reached since the beginning of this year until today 14 billion, 329 million and 80 thousand and $ 574." The bank added that "this amount is reduced from what it was on the same date last year in 2015 in which sales totaled $ 15 billion, 225 million and 788 thousand and $ 617." The bank pointed out that "the sale amounts transferred to accounts in banks abroad, the price is 1190 dinars per dollar, while cash sales price of 1190 dinars per dollar."
Views 546   Added 16/06/2016 - 18:24   Last updated 06/18/2016 - 13:57   No. Content 3970

[Rabbi]

Everyone has to remember that the CBI is selling USD in the auctions.  They are taking in both IQD and other foreign currencies in exchange for dollars.  We need for that to change.  We want the CBI to be selling IQD in their auctions.  That what other countries' Central Banks do!   This won't happen until they de-dollarize, i.e., eliminate the multiple currency practice.  When Iraq de-dollarizes, that will cause an instantaneous increase in the demand for the IQD, resulting in a simultaneous increase in the market price of the IQD against other currencies.   

[presence]

Rabbi - Thank you for your explanation and interpretation of the auction process. I've always found the subject and topic rather complex. 

[sandfly]

THANKS

[Big_J]

[nannab]

Thank you Rabbi.