Who exactly are the buyers at the Dinar auctions?

[fish7days]

Hi Dinarians,

 

I have been wondering who the buyers are at the Dinar auctions, and more importantly, what is the purpose of their buying. Are they (the buyers) simply brokering it in the secondary market to whomever wants to buy from them or are they actually holding on to it hoping for an increase in value?

 

Thx

fish7days

[Sage449]

Don't hold me to this as may have changed over time, but as I understand it the hard-currency auction governed by the Central Bank of Iraq (CBI) — the authority in charge of implementing monetary policy in the country — has ushered in the formation of financial groups, in which board members of Iraqi private banks are investing.

Every day since 2004, the CBI has held an auction through which hard currency is sold to banks, companies and traders in exchange for evidence of import and transaction receipts. The auctions aim to prevent market speculation and stabilize the exchange rate of Iraqi dinars to the US dollar. The CBI — does not deal with individuals —

Edited October 5, 2018 by Sage449
Spelling

[fish7days]

Thx Sage!!

[MFNGPTYLTD]

That really is a good question Andwhy still auctions and not move forward now things are settled and in place this is going to hurt them even more so the longer the auctions go I doubt of anyone will make money on them its beyond a joke now .. The longer it takes they must have a agender to rip every one off with Dinars in saying that the longer it takes the worse we get it appears ..

www.another site.com  they talk some rubish just complete bull they feed all and so many contradictions from a lot of idiots they call themselves so much crap feed coming from some . But the longer the worse it will be for them to pay back one day they say it great nothing to stop dont need government then next day more delays and need government . I cant believe that thus country needs money to build while doing nothing to shut up the auctions. A Joke.