Low sale

[Qman]

Very low sale today, does that mean anything?

http://www.cbi.iq/index.php?pid=CurrencyAuctions

Edited August 30, 2010 by Qman

[Uncle Barkie]

It could mean people are losing interest ( and their patience ) in IQD since the GOI hasn't been formed after 5 months with nothing accomplished .

[ReturnToGod]

Very low sale today, does that mean anything?

http://www.cbi.iq/in...urrencyAuctions

"It could mean that people are losing interest...."

It could also mean that the buyers don't want too many unsold IQDs on their hands when this thing RVs.

[Uncle Barkie]

"It could mean that people are losing interest...."

It could also mean that the buyers don't want too many unsold IQDs on their hands when this thing RVs.

Actually if that were the case. anyone with a brain would want as much IQD on hand as possible , so that when it does RV , they can cash it back in at a substantial profit..

[sportfisher]

These are foreign currency auctions, they sell foreign currency for IQD in return to them.

$100,000,000 is actually average if you look at the auction history, which hasn't been updated since July 12th 2010.

A low auction volume could mean banks might want to hold IQD.

[woookiee]

Thanks for the post.

[Doc31]

Actually if that were the case. anyone with a brain would want as much IQD on hand as possible , so that when it does RV , they can cash it back in at a substantial profit..

Yep

And it's virtually the same as last Thursday $110M ... as stated by Sportfisher it's a pretty average sale. (For them a low sale is in the $70M range ... which is still substantial.)

However, the statement that:

a low sale could mean that banks want to hold onto IQD

... not so much

The numbers at the bottom "Total offers for buying" indicate "open interest". If this number and the $110M sale number are the same it means that all interest was satisfied. And in this case it shows that it was.

Peace

Doc31

Edited August 30, 2010 by Doc31