CBI Daily Auction & Currency Exchange Rates - Monday - 5/18/2020

[ronscarpa]

Monday - May 18, 2020

CBI - Foreign Currency Selling Window for Monday - 18/5/2020

Announcement No.(4192)

Sale Date - Monday - 18/5/2020

Details	Amount
Total sale for the purpose of strengthen outside assets (Transfers and credits)	162,718,000
Total sale cash	14,580,000
Total sale amount	177,298,000

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:

» Central bank sales of the Iraqi agenda of foreign currency (amounts in thousands of dollars) Monday 05/18/2020 and port today

  Note: Today is the second day they have had cash sales in the auction ... Ron

 

[ronscarpa]

IQD Currency Exchange Rates

Monday - 5/18/2020

 

• Exchange Rates

US dollar	USD	1190.000
Euro	EUR	1294.125
Pound sterling	GBP	1463.046
Canadian dollar	CAD	844.031
Swiss franc	S.FR	1228.260
Swedish krona	SEK	121.602
Norwegian krone	NOK	118.315
Danish krone	DKK	173.578
Japanese yen	JPY	11.099
Chinese Yuan	CNY	167.733
Australian dollar	AUD	770.287
Special drawing rights	SDR	1621.637
Gold for 24-ounce	Gold	2019328.800

[ronscarpa]

( IQD Rates - Updated: Monday - 5/18/2020 )

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

Dinar Market Rate: (CBI last reported 5-12-2020)
1233.00 IQD to 1 USD

- Rates Are Within IMF 2% Rule: YES/NO..?
- 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, and ongoing since 4-21-2020).

Good Monday Morning Dinar Vets - Have a Blessed Day ... RON

[ronscarpa]

Note: as of today, if calculations are correct, it appears the IQD fell out of the IMF 90 Day 2% Compliance Rule at 1214.2 (as compared to the 2% limit of 1213.8) ... Ron

 

 

However, this covid virus crisis may cause an exception to the 2% rule by the IMF because all the world's currencies have been seriously affected. Just something to consider.

 

ALSO: Note that today's Currency Auction had a Cash Sale for the second time in well over a month, could the reason be to bring the rate back within the 2% compliance range. Food for thought...RON

Edited May 18, 2020 by ronscarpa

[DinarThug]

LINK

Low dollar exchange rate in local markets

 

18th May, 2020

The exchange rates of the dollar fell for the third consecutive day on the Kifah Stock Exchange and local markets, Monday, (May 18, 2020).

The prices of the Kifah Stock Exchange - Baghdad recorded 122,500 dinars per 100 dollars.
 
Buying and selling prices in banking shops
 
The selling price of the dollar = 123,000 dinars.
 
The purchase price of the dollar = 122.000 dinars.

[DinarThug]

LINK

The Central Bank Sold More Than $ 177 Million With The Participation Of 34 Banks

 

18th May, 2020

 

The daily bulletin of the Central Bank of Iraq sales of hard currency showed on Monday, 18/5/2020 and with the participation of 34 banks, it has exceeded $ 177 million, of which more than 162 million is to enhance bank balances abroad and $ 14 million for local market issues.

The central bank administration insists on moving forward with its policy that has been followed since 2003 until now, especially the auction file for the sale of the flag to banks, which was and is still subject to permanent criticism by those following economic affairs in Iraq, which has become a matter of surprise and suspicion of this approach.

Link for the list of beneficiary banks from the Monday currency auction window:

https://cbi.iq/static/uploads/up/file-158979439123407.pdf