ronscarpa Posted January 30, 2020 Report Share Posted January 30, 2020 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 1 1 Quote Link to comment Share on other sites More sharing options...
ronscarpa Posted January 30, 2020 Author Report Share Posted January 30, 2020 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 1 1 Quote Link to comment Share on other sites More sharing options...
ronscarpa Posted January 30, 2020 Author Report Share Posted January 30, 2020 ( 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 1 2 Quote Link to comment Share on other sites More sharing options...
coorslite21 Posted January 30, 2020 Report Share Posted January 30, 2020 Extended out to next Wednesday.......today being Thursday.........isn't that unusual?.......Thanks for the post...... CL 1 Quote Link to comment Share on other sites More sharing options...
Starrider Posted January 30, 2020 Report Share Posted January 30, 2020 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 Quote Link to comment Share on other sites More sharing options...
Spartakus Posted January 30, 2020 Report Share Posted January 30, 2020 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. 1 Quote Link to comment Share on other sites More sharing options...
coorslite21 Posted January 30, 2020 Report Share Posted January 30, 2020 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 1 Quote Link to comment Share on other sites More sharing options...
ronscarpa Posted January 30, 2020 Author Report Share Posted January 30, 2020 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 2 1 1 Quote Link to comment Share on other sites More sharing options...
coorslite21 Posted January 30, 2020 Report Share Posted January 30, 2020 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 2 Quote Link to comment Share on other sites More sharing options...
jake21 Posted January 30, 2020 Report Share Posted January 30, 2020 The auctions only benefit Iran and the corrupt Iraqi government. That is why they we won't see anything until they stop them. 2 Quote Link to comment Share on other sites More sharing options...
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