CBI Daily Auction & Currency Exchange Rates - Thursday - 1/30/2020

[ronscarpa]

Thursday - January 30, 2020

CBI - Foreign Currency Selling Window for Wednesday, 5/2/2020 that was performed on Thursday, 30/1/2020

Announcement No.(4136)

Sale Date -  5/2/2020 performed on Thursday - 30/1/2020

Details	Amount
Total sale for the purpose of strengthen outside assets (Transfers and credits)	209,174,341
Total sale cash	22,990,000
Total sale amount	232,164,341

Note:

• Selling price of remittance money to bank accounts outside is (1190) ID for each Dollar.
• Cash selling price is (1190) ID for each Dollar.

 

   Link:

»The Central Bank of Iraq sales schedule of foreign currency (amounts in thousands of dollars) for Wednesday, 5/2/2020, and executed on Thursday 1/30/2020

 

[ronscarpa]

IQD Currency Exchange Rates

Thursday - 1/30/2020

 

• Exchange Rates

US dollar	USD	1190.000
Euro	EUR	1319.472
Pound sterling	GBP	1558.841
Canadian dollar	CAD	907.289
Swiss franc	S.FR	1224.784
Swedish krona	SEK	124.865
Norwegian krone	NOK	132.490
Danish krone	DKK	176.568
Japanese yen	JPY	10.830
Chinese Yuan	CNY	172.416
Australian dollar	AUD	813.841
Special drawing rights	SDR	1641.093
Gold for 24-ounce	Gold	1840255.800

[ronscarpa]

( IQD Rates - Updated: Thursday - 1/30/2020 )

Official Central Bank of Iraq (CBI) Dinar Rate:
1190 IQD to 1 USD

Dinar Market Rate: (CBI last reported 1-30-2020)
1193.382 IQD to 1 USD

- Rates Are Within IMF 2% Rule: YES
- Are Rates IMF 2% Rule Compliant for 90 Days: YES (maintained since ~Mar. 15, 2018 & Iraq Market since ~Nov. 14, 2018)      (NOTE: rates were out of compliance for 3 days starting 11-5-2019 & 2 days starting 1-7-2020

[coorslite21]

Extended out to next Wednesday.......today being Thursday.........isn't that unusual?.......Thanks for the post......     CL

[Starrider]

 

 

I always thought that this has to go the other way on the inverse (lower means higher on the exchange).

 

 

 

8 minutes ago, ronscarpa said:

IQD Currency Exchange Rates

Thursday - 1/30/2020

 

• Exchange Rates

US dollar	USD	1190.000
Euro	EUR	1319.472
Pound sterling	GBP	1558.841
Canadian dollar	CAD	907.289
Swiss franc	S.FR	1224.784
Swedish krona	SEK	124.865
Norwegian krone	NOK	132.490
Danish krone	DKK	176.568
Japanese yen	JPY	10.830
Chinese Yuan	CNY	172.416
Australian dollar	AUD	813.841
Special drawing rights	SDR	1641.093
Gold for 24-ounce	Gold	1840255.800

 

4 minutes ago, coorslite21 said:

Extended out to next Wednesday.......today being Thursday.........isn't that unusual?.......Thanks for the post......     CL

 

 

Starr

[Spartakus]

The CBI has been doing that. I guest to curb speculations. This also shows to me that they have no intention of doing anything soon. They are very comfortable with the auctions anyway.

[coorslite21]

6 minutes ago, Spartakus said:

The CBI has been doing that. I guest to curb speculations. This also shows to me that they have no intention of doing anything soon. They are very comfortable with the auctions anyway.

 

I'm not as well versed on this as Ron......(and most others)...

My understanding is these auctions are of some benefit to Iran.......

I believe the civil unrest in Iraq is about getting out from foreign influence......Iran and the US......soon we'll see who the new PM is.......and who/what they support......

CL

[ronscarpa]

10 minutes ago, coorslite21 said:

Extended out to next Wednesday.......today being Thursday.........isn't that unusual?.......Thanks for the post......     CL

 

6 minutes ago, Starrider said:

I always thought that this has to go the other way on the inverse (lower means higher on the exchange).

 

4 minutes ago, Spartakus said:

The CBI has been doing that. I guest to curb speculations. This also shows to me that they have no intention of doing anything soon. They are very comfortable with the auctions anyway.

 

Under normal circumstances, the Auction is held for the next day's selling window. They started having multiple auctions, then started extending the selling window (as you have seen in the past few weeks) to control the market rate and keep it low (close to the official rate). The 2% requirement by the IMF is a monthly average (so I have been advised), and they dropped out of that 2% for a 3 day period, and a two day period - as a result the CBI is using whatever methods it deems appropriate to keep the market rate within the 2%.  As Spartakus said, it also helps curb local speculation.  I hope this helps answer your questions. Ron

[coorslite21]

4 minutes ago, ronscarpa said:

 

 

 

Under normal circumstances, the Auction is held for the next day's selling window. They started having multiple auctions, then started extending the selling window (as you have seen in the past few weeks) to control the market rate and keep it low (close to the official rate). The 2% requirement by the IMF is a monthly average (so I have been advised), and they dropped out of that 2% for a 3 day period, and a two day period - as a result the CBI is using whatever methods it deems appropriate to keep the market rate within the 2%.  As Spartakus said, it also helps curb local speculation.  I hope this helps answer your questions. Ron

 

Good deal....in essence not unlike what the Fed has been doing with the REPO usage in the States.......another tool used for control.......Thx

CL

[jake21]

The auctions only benefit Iran and the corrupt Iraqi government. That is why they we won't see anything until they stop them.