IQD Auction No RI/RV?

[Doc31]

We have a DV member that says he has it on good authority that as long as there are CBI IQD sales we won't see an RI/RV. He says that once they stop that it will 48 hours and then boom!

Don't ask me ... sounds reasonable ... why would you continue to sell into RI/RV?

Anyway here are the numbers

Peace

Doc31

PS if I remembered who it was I'd give him credit ... been reading toooooooooooo much ... just don't recall ... if someone remembers post who and the link please

Announcement No. (1681)

The latest daily currency auction was held in the Central Bank of Iraq on the 24-JUN-2010. The results were as follows:

Details Notes

Number of banks 15

Auction price selling dinar / US $ 1170

Auction price buying dinar / US $ -----

Amount sold at auction price (US $) 182,863,000

Amount purchased at Auction price (US $) -----

Total offers for buying (US $) 182,863,000

Total offers for selling (US $)

http://www.cbi.iq/index.php?pid=CurrencyAuctions

[leggman24]

We have a DV member that says he has it on good authority that as long as there are CBI IQD sales we won't see an RI/RV. He says that once they stop that it will 48 hours and then boom!

Don't ask me ... sounds reasonable ... why would you continue to sell into RI/RV?

Anyway here are the numbers

Peace

Doc31

PS if I remembered who it was I'd give him credit ... been reading toooooooooooo much ... just don't recall ... if someone remembers post who and the link please

Announcement No. (1681)

The latest daily currency auction was held in the Central Bank of Iraq on the 24-JUN-2010. The results were as follows:

Details Notes

Number of banks 15

Auction price selling dinar / US $ 1170

Auction price buying dinar / US $ -----

Amount sold at auction price (US $) 182,863,000

Amount purchased at Auction price (US $) -----

Total offers for buying (US $) 182,863,000

Total offers for selling (US $)

http://www.cbi.iq/index.php?pid=CurrencyAuctions

Hey Doc, is it possible that the numbers they are putting up are fake? Remember this is Iraq we are dealing with. Just a thought.

[zantac]

Take the below for what its worth

I don’t mean to be negative but I have this from a very good authority that there will be & can’t be any RV/RI as long as the auctions are continuing.

So what we have is this, everyday CBI post there auction details you will not see RV/RI within 48 hours after this day, i.e. auction date 22-JUN-2010, no RV/RI until opening of business on the 25th.

Cant provide a link as its Intel from a top fiscal source

Read more:

[Doc31]

Take the below for what its worth

I don’t mean to be negative but I have this from a very good authority that there will be & can’t be any RV/RI as long as the auctions are continuing.

So what we have is this, everyday CBI post there auction details you will not see RV/RI within 48 hours after this day, i.e. auction date 22-JUN-2010, no RV/RI until opening of business on the 25th.

Cant provide a link as its Intel from a top fiscal source

Read more:

There we go ... Zantac posted the original ... good, identity revealed ... thanks for reposting! Couldn't remember (I thought it might be you or Drox or AutoMag or ... LOL)

Thanks again ... it just makes sense!

Leggman24 ... MPO is no, but I suppose anything is possible ... after all it is Iraq!

PEACE

Edited June 24, 2010 by Doc31

[viper51]

I was told a few weeks ago that as long as they are making millions off the dinar sales they will not RV. A freeze on buying dinar for a week or two would more than likely speed the RV up.

[powerpager]

FREEZE THE DINAR

SMOKE THE DONG!!!

[digital11]

I was told a few weeks ago that as long as they are making millions off the dinar sales they will not RV. A freeze on buying dinar for a week or two would more than likely speed the RV up.

It's a foreign currency auction. They don't sell IQD, but USD. The auction has nothing to do with the distribution of dinar but is rather how try managed to suck up the 70% liquidity.

[cgbrown]

It's a foreign currency auction. They don't sell IQD, but USD. The auction has nothing to do with the distribution of dinar but is rather how try managed to suck up the 70% liquidity.

I like your answer. Sounds more reasonable to me.

[zantac]

It's a foreign currency auction. They don't sell IQD, but USD. The auction has nothing to do with the distribution of dinar but is rather how try managed to suck up the 70% liquidity.

Read more:

There the reason why there is no RV with Auctions still going, there still trying to suck back more.

When the auctions stop its more likley to RV than when auctions are still running

[SuperFlyJr]

It's a foreign currency auction. They don't sell IQD, but USD. The auction has nothing to do with the distribution of dinar but is rather how try managed to suck up the 70% liquidity.

Wait, they're buying dinar? Then why does it say:

Auction price selling dinar / US $ 1170

Amount sold at auction price (US $) 182,863,000

Sounds like they sold dinar valued at $182,863,000? Hoping you're right, just trying to understand. Thanks!

Edited June 24, 2010 by SuperFlyJr

[KimberlyHanson]

I was told a few weeks ago that as long as they are making millions off the dinar sales they will not RV. A freeze on buying dinar for a week or two would more than likely speed the RV up.

I don't see how making a few million every day even compares to what an RV would bring to their country...seems like that would just be a drop in the bucket.

"It's a foreign currency auction. They don't sell IQD, but USD. The auction has nothing to do with the distribution of dinar but is rather how try managed to suck up the 70% liquidity."

I like this explanation...makes sense to me. Thanks for clarifying!

[Munsch]

Hey Doc, is it possible that the numbers they are putting up are fake? Remember this is Iraq we are dealing with. Just a thought.

I second that. Look at the post I posted below. Things aren't adding up.

[cgbrown]

We have a DV member that says he has it on good authority that as long as there are CBI IQD sales we won't see an RI/RV. He says that once they stop that it will 48 hours and then boom!

Don't ask me ... sounds reasonable ... why would you continue to sell into RI/RV?

Anyway here are the numbers

Peace

Doc31

PS if I remembered who it was I'd give him credit ... been reading toooooooooooo much ... just don't recall ... if someone remembers post who and the link please

Announcement No. (1681)

The latest daily currency auction was held in the Central Bank of Iraq on the 24-JUN-2010. The results were as follows:

Details Notes

Number of banks 15

Auction price selling dinar / US $ 1170

Auction price buying dinar / US $ -----

Amount sold at auction price (US $) 182,863,000

Amount purchased at Auction price (US $) -----

Total offers for buying (US $) 182,863,000

Total offers for selling (US $)

http://www.cbi.iq/index.php?pid=CurrencyAuctions