The central bank begins selling the dollar through its daily auction

[Mary B]

The central bank begins selling the dollar through its daily auction

 

05-05-2020 

 

 

 

On Sunday, the Central Bank of Iraq began selling the dollar through its daily auction, after stopping the result of the embargo and since March 17.

The bank’s sales today amounted to 245 million and 669 thousand and 143 dollars, covered by the bank at a base exchange rate of 1190 dinars per dollar.

 

The bank's sales were all to boost the balances abroad in the form of transfers and credits that were fully covered by the bank at an exchange rate of 1190 dinars per one dollar, while there was no cash sale to banks.

 

 

While none of the 27 banks participating in the currency auction made any offers to sell the dollar.

 

https://www.alsumaria.tv/news/اقتصاد/340518/البنك-المركزي-يباشر-ببيع-الدولار-عبر-مزاده-اليومي

[tigergorzow]

MaryB Thanks,  DV,  The CBI have started the "Currency Auctions today" without any banks participating.  Doesn't make any sense.

 

GO RV & RI

[navira]

The CBI wants to stop the high exchange rate of the dollar to the dinar...they are not allowing any banks to participate maybe because all banks are selling dollar at diff rate...thus this will be harder for the CBI to get the rate back to its normal--->1190dinar/dollar.

 

 

2029(summer)

[ChuckFinley]

Thanks Mary B. We will just have to see how this plays out. 

[Rochester]

No banks participating? Makes perfect sense...imo....Means power and decision making is being centralized, someone is behind the curtain, pulling the strings. Also it means whoever is actually controlling the dinar in Iraq, the fact that the dinar snapped right back into compliance with international rules, is a good sign in my opinion.

 

Iraq is a dog. Someone has a leash on the dog. What you just saw is evidence that the dog owner is pulling back on the leash, testing out control of the dog. The dog obeyed. Good sign. "Goooood doggie....here a biscuit"

 

That's my Dogbert comment on Iraqi Monetary Policy....woof woof Pigs will soon fly...

 

"Thinking again?" the Duchess asked, with another dig of her sharp little chin.
"I've a right to think," said Alice sharply, for she was beginning to feel a little worried.
"Just about as much right," said the Duchess, "as pigs have to fly ..." — Alice's Adventures in Wonderland, Chapter 9