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CBI Auction 1/5/17


ixic
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CBI Auctions still going.  The buy/sell rate moved 2 dinars.

Now 1184/1182.

 

Announcement No. (3353)

The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 5/1/2017 and the results were as follows:

 

DETAILS NOTES
Number of banks 33
Number of remittance companies 17
Amount sold at auction price (US$) 158,915,838
Amount purchased at Auction price (US$) -----
Total offers for buying (US$) 158,915,838
Total offers for selling (US$) -----

 

 

Exchange rates from (06/04/2015) till the last date

Exchange rates from the beginning of the auction until (19/2/2015)

 

 

Australian Dollar        AUD    856.506      856.077

Gold of 24 carat Gold 1,362,784.000 1,360,482.000

 

CURRENCY CODE SELL BUY
US dollar USD 1184.000 1182.000
Euro EUR 1229.584 1228.969
British pound GBP 1455.018 1454.290
Canadian dollar CAD 881.083 880.643
Swiss franc CHF 1150.073 1149.498
Swedish krona SEK 129.489 129.425
Norwegian krone NOK 136.601 136.532
Danish krone DKK 165.398 165.315
Japanese yen JPY ----- -----
Special
Drawing Rights
SDR 1582.534 1581.743

Indicative rates - 04.01.2017
 

 

 

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The Iraqi dinar is under exchange control pegged to the US dollar.

The daily auctions bring in dinars for US dollars

There is 2 exchange rates.... The official CBI rate and the street or black market rate.

The difference between the 2 rates is more than 100 dinars per dollar

The people who Buy from the CBI rate at 1184 dinar per $1, Then go on the street and sale $1 for 1303 dinar

Profit of 119 dinar per $1 US dollar.... This means.....Corruption and depletion of foreigner currency reserves

Time to stop the foreigner currency auctions and give real market value to the dinar.

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15 minutes ago, Laid Back said:

The Iraqi dinar is under exchange control pegged to the US dollar.

The daily auctions bring in dinars for US dollars

There is 2 exchange rates.... The official CBI rate and the street or black market rate.

The difference between the 2 rates is more than 100 dinars per dollar

The people who Buy from the CBI rate at 1184 dinar per $1, Then go on the street and sale $1 for 1303 dinar

Profit of 119 dinar per $1 US dollar.... This means.....Corruption and depletion of foreigner currency reserves

Time to stop the foreigner currency auctions and give real market value to the dinar.

Yep agreed brother Laid Back :twothumbs:

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I don't think the market rate should be considered a" Black Market " rate.  After the dinar is not an illegal item and not considered contraband.

The Market rate or "going rate   is the usual price charged and traded for the dinar in a free market . If demand goes up, The market rate will respond accordingly with a higher value. If demand goes down the value drops.

I think the main reason in the discrepancy between the two is that The citizens of Iraq just do not have as much faith in the dinar as they do the almighty US dollar. 

I'm just a electrician  and by no means am I an economist so these are just my opinions. LOL More than likely i am wrong here.

 

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59 minutes ago, SocalDinar said:

I don't think the market rate should be considered a" Black Market " rate.  After the dinar is not an illegal item and not considered contraband.

The Market rate or "going rate   is the usual price charged and traded for the dinar in a free market . If demand goes up, The market rate will respond accordingly with a higher value. If demand goes down the value drops.

I think the main reason in the discrepancy between the two is that The citizens of Iraq just do not have as much faith in the dinar as they do the almighty US dollar. 

I'm just a electrician  and by no means am I an economist so these are just my opinions. LOL More than likely i am wrong here.

 

SocalDinar.....don't worry, I know how careful electricians are and usually more right than wrong!:twothumbs:  We don't have a Sparky emoji!:lol:

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9 minutes ago, SnowGlobe7 said:

...and Razyor

 

9 minutes ago, WISKY291 said:

Also K98, Does anybody know what happened to him?

 

29 minutes ago, SnowGlobe7 said:

I thought about him the other day

can someone update us on him?

As with any marathon it gets harder to stay in the race the longer the marathon is.....sometimes people just can't handle all the stress and drop out of the race.

 

Image result for marathon Beginning of the Race

Image result for marathon end End of Race

So stay tough because no matter the pain the satisfaction of sticking to the end is worth it!!! And this Dinar Race is a Double Blind Race so it can go on for another 3 feet or another 30 miles no one knows...

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I would not lose alot of sleep over these auctions,,,JMO, but I believe these auctions will continue untill we see what we are looking for  AND BEYOND, only difference will be later they will be selling in reverse, as the dinar over takes the value of the usd......these auctions are important for the CBI to make a profit.....just need to squash  the corruptions within the auctions.

Edited by chinadawg
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12 minutes ago, yota691 said:

Just keep him in Prayer and all of those mention, K98 hasn't drop out of any race as the Drunk V has assume and has no knowledge of...

:praying:Good morning Master Yota and all of DV. As Yota says K98 most certainly could use our prayers. Sometimes we seldom know the suffering and trials that are dearest friends go through.:praying:

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6 hours ago, yota691 said:

Just keep him in Prayer and all of those mention, K98 hasn't drop out of any race as the Drunk V has assume and has no knowledge of...

No assumption they are not here posting with us ...The Marathon is being on DV and interacting with all the members here to help everyone here get through these times of unknowing. These are tough times for everyone of us because we all decided to make a leap of faith and invest in Iraqi Dinar; and we keep believing in that faithful leap we took still today. I for one believe reading comments and seeing news hints and kicking Guru butts is a away for me and maybe even for all of us here to deal with the pressures of this situation. It is very hard to wake up and see "No RV today" and then see that no one in the world can give a straight answer to a straight question of "When?". When will HCL pass? When will CBI/IMF/ToothFairy raise rates? When..When..When.. . So my post was to show that we are in a marathon race and not a quick sprint and I believed everyone here who read it could transition the physical beating the mind and body takes in these two events and could then understand why some are here today reading and posting and supporting and some are not. So maybe you do or you do not understand that DV is a team of people working together to get to the finish line with the fewest casualties as possible and that everyone can make it across the line if more positive support is dished out and less negative derogatory comments are given to fellow DV members (Does not apply to Gurus they are fair and open season game).

Image result for soar with eagles

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