Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

An unprecedented drop in central bank auction sales


yota691
 Share

Recommended Posts

  •  Time: 12/23/2020 13:21:46
  •  
  •  Read: 6,760 times
An unprecedented drop in central bank auction sales
  
{Baghdad: Al Furat News} The Central Bank of Iraq’s dollar sales fell today, Wednesday, in an unprecedented way.

According to the bank's daily bulletin on the currency auction, the total sale for the purposes of strengthening the funds abroad {transfers, credits} amounted to 77 million 450 thousand and 994 dollars, and the cash sale amounted to only 200 thousand dollars.
As for the total sales, it was 77 million 650 thousand and 994 dollars.
The central bank's sales in the currency auction yesterday were $ 113 million.
The central bank sells dollars for the sums transferred to bank accounts abroad at a price of {1460} dinars per dollar, and cash sales at {1460} dinars per dollar, in implementation of its recent decision to raise the exchange rate.
The central bank’s sales on Wednesday and yesterday reflect the statements of the Central Bank’s governor, Mustafa Ghalib, who said earlier that the bank “will double the sale of the dollar to exchange companies,” indicating that “the abundance of the dollar will make it stable in the market.
Ammar Al-Masoudi

1f93a5d50953fac07d7e6f54827ce9bc.jpg

  • Upvote 4
  • Pow! 3
Link to comment
Share on other sites

 
  
 December 23, 2020

The results of the foreign currency sale window on Wednesday 12/23/2020, and executed today

 

Advertisement No. (4322)

Sale date - Wednesday 12/23/2020 and executed today

the details

Amount

Total sale for the purposes of enhancing funds abroad (transfers, credits)

77,450,994

Total cash sale

200,000

Total sales

77,650,994


Note that:

  • The sale price of the sums transferred to bank accounts abroad is ( 1460 ) dinars per dollar.
  • The cash sale price is ( 1460 ) dinars per dollar.

» The Central Bank of Iraq’s foreign currency sales schedule (amounts in thousands of dollars), Wednesday, 12/23/2020, and executed today

  • Upvote 2
  • Pow! 3
Link to comment
Share on other sites

43 minutes ago, Laid Back said:

Looks like the latest decision by the CBI to devalue the dinar by 22% is cutting out the spread that is made in the currency auctions and money exchangers.
The decision is hurting the people

The decision is hurting the corrupt

The decision is hurting the banks and their profits

The decision is hurting money laundering operations  
The decision is forcing the banks to invest in other profitable ventures (mortgages, loans, credit cards, fees etc)

The decision will increase financial inclusion 

The decision will reduce  the monetary mass

The decision will create liquidity 

 

Go CBI

Go new monetary policy 

Go RV

Go 2021

Go $1:1

Spot on brother, this is a strategic move to eventually raise the value of the IQD. Do not get discouraged DV on this latest move by the CBI, it is part of the long term plan, it will accomplish what Laid Back has proposed here and will bring Iraq to the worlds stage. Most important, the decision to reduce the monetary mass, also, we have noticed a urgency to complete certain amount of issues that have been piling up for years now, the agreement with the KURDS being at the top of that list. Hang tight, its going to be an interesting finish to this trying year. 

  • Like 4
  • Thanks 3
  • Upvote 4
  • Pow! 3
Link to comment
Share on other sites

1 hour ago, Laid Back said:

The decision is hurting the corrupt

 

The decision is hurting money laundering operations  

Laidback, I always find your input helpful. Thank you. The two above items did cross my mind when I first read about the devaluing but I didn’t know if it was just wishful thinking on my part. 😀 Maliki hating the plan gave some credibility to my thinking and reading your post convinced me. 

  • Like 1
  • Upvote 3
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    No registered users viewing this page.



  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.