No One has explained this yet.

[FishMan1969]

Still waiting for someone to be able to give some explanation of the "NO SPREAD" event earlier in the week. From CBI web site. www.cbi.iq

This has never happened before and the last time the Market price was changed was December 2009.

First column is Market Price, Second column is Auction Price.

I wish someone had some logical explanation for this, so "It" stops bugging me!!!

[Maynard57]

I didn't notice that. I guess if I wanted to buy somebody's dinar at the current exchange rate bad enough, I think about not having a spread, too.

Maynard

[PAPATOM]

there is always a profit in currency for brokers...and above them....for the central banks that sell it to them.....

Market price is what the "retail customer" like you or I, trading thru a broker, is going to have to pay. it includeds the"spread" or the "pips" that make up the brokers profit.

the broker then pays His or her price to the central bank...that makes ITS profit there.

for these two prices to be listed the same is at best VERY ODD....and from what I have ever seen, IMPOSSIBLE based on this explanation.

Hope this helps.

[neuman]

I'm not sure what to make of it. I feel like it is a huge piece of the puzzle though! Hopefully someone with more currency trading experience can help out.

[FishMan1969]

I also think that we need to clarify a very HUGE misconception....

I see almost daily that people assume that DINAR is being sold at the CBI auction at the published rates shown on the home page of CBI......

The way I understand it, the DINAR is being PURCHASED by the CBI at these rates, NOT SOLD at these rates. (Thus bringing more Dinar in to the CBI)

IF I am wrong, someone please let me know, and If I am right, please let EVERYONE that is making the false assumption aware of this so the confusion stops.

People are trying to make logical decisions based on CBI selling DINARS at these published rates which would not then make any sense.

Lets just clarify please.

Now, why the 5 spots are blank for some currencies, that has not been explained logically either.....

[FishMan1969]

I also think that we need to clarify a very HUGE misconception....

I see almost daily that people assume that DINAR is being sold at the CBI auction at the published rates shown on the home page of CBI......

The way I understand it, the DINAR is being PURCHASED by the CBI at these rates, NOT SOLD at these rates. (Thus bringing more Dinar in to the CBI)

IF I am wrong, someone please let me know, and If I am right, please let EVERYONE that is making the false assumption aware of this so the confusion stops.

People are trying to make logical decisions based on CBI selling DINARS at these published rates which would not then make any sense.

Lets just clarify please.

Now, why the 5 spots are blank for some currencies, that has not been explained logically either.....

Anyone???

[ShawnW]

Still waiting for someone to be able to give some explanation of the "NO SPREAD" event earlier in the week. From CBI web site. www.cbi.iq

This has never happened before and the last time the Market price was changed was December 2009.

First column is Market Price, Second column is Auction Price.

I wish someone had some logical explanation for this, so "It" stops bugging me!!!

The lack of explanation has puzzled me on this too. I have traded currencies for over six years and this one has me stumped as to why, or even what exactly it means. But, it definitely does not sit right with me. Just makes no sense in my head. Thus the incoherent sentence I just wrote for no reason

Shawn

[dlbfilm]

This is very curious to say the least????

[lgraham]

I also think that we need to clarify a very HUGE misconception....

I see almost daily that people assume that DINAR is being sold at the CBI auction at the published rates shown on the home page of CBI......

The way I understand it, the DINAR is being PURCHASED by the CBI at these rates, NOT SOLD at these rates. (Thus bringing more Dinar in to the CBI)

IF I am wrong, someone please let me know, and If I am right, please let EVERYONE that is making the false assumption aware of this so the confusion stops.

People are trying to make logical decisions based on CBI selling DINARS at these published rates which would not then make any sense.

Lets just clarify please.

Now, why the 5 spots are blank for some currencies, that has not been explained logically either.....

Fishman,

I used to believe as you do about the CBI buying back the IQD at these auctions. But Doc31 had an excellent explanation when I posed this exact question. If you missed his explanation you can view it from this link. Hope this helps. Keep the information coming Fishman. I am anxious to see some feedback on your question of no spread. Thanks for your post. (+)

All the best

Lgraham

[FishMan1969]

Fishman,

I used to believe as you do about the CBI buying back the IQD at these auctions. But Doc31 had an excellent explanation when I posed this exact question. If you missed his explanation you can view it from this link. Hope this helps. Keep the information coming Fishman. I am anxious to see some feedback on your question of no spread. Thanks for your post. (+)

All the best

Lgraham

http://dinarvets.com..._1entry177492

Thanks for the link.... I would have to disagree with Doc31 analysis at this point ( and I respect him a lot) unless someone can explain it where it makes sense logically to my brain.

Until, it makes sense, I believe this is backwards....

1. It makes NO SENSE for any of us to be in this investment if CBI is trying to liquidate all their currency at their auction on a daily basis. An RV would never make sense after they just got rid of as much IQD as possible and then value it much higher and have to buy it back at a HUGE loss.

2. It makes NO SENSE that for 1 USD you get 1170 IQD during your purchase at the CBI, which the auction price is at: (1170), and then per the CBI auction rates they would be buying the IQD back and giving you your 1 USD back to you when you bring 1168 of your Dinar back to them. You just profited 2 IQD in that transaction. That is backwards per logic in my brain.

So, I would have to stand by the logic that makes sense to me:

1. CBI would like to increase the liquidity by stockpiling as much IQD as possible. Therefore, the pain during the RV is minimized and the report of 70% to 90% IQD being recovered as reported on this site makes sense. This allows the RV and is GREAT for us....

Therefore, although the chart on CBI site appears to be selling IQD daily, it is the exact opposite, They are having auctions to Sell other currency in return for the return of IQD back into their storehouses...... Which is going to be getting larger and larger according to Shabibi...

Scooter, Oh, Scooter, please correct me if I am wrong....

Just my opinion and props to Doc31 and lgraham for your attempt to clarify...

Lets look towards the published date of Sept 13th....... Effective Sept 15th.....

[Eddinar]

great questions Fishman....the "no spread" has been bugging me as well. I also noticed the last auction came on Sept. 8....I know they are closed due to the end of Ramadan and their 3 day holiday, but something is happening here....I look forward to Scooters synopsis of your question....

[HeavyDuty]

Fish,

I think you are correct. And I thought I had read that they are auctioning off other currencies and USD was a major one.

HD

[FishMan1969]

Fish,

I think you are correct. And I thought I had read that they are auctioning off other currencies and USD was a major one.

HD

I am glad you agree. I would not want to get into an argument with your avatar as I am sure my avatar would lose a physical battle... (without the secret service assistance)!

[neuman]

I am begining to wonder if anything is even being auctioned at all. In the words its just a default post while they are configuring something else with syncing up computers? Just a theory... gooooooo rv! Go rv!

[dlbfilm]

Great questions.... Go RV....

[Danneedsrvnow]

Where is scooter?

We need your help!!!!

[HeavyDuty]

Fish

Your Avatar wigs me out, it's right up there with Dinarded. Sorry brother

HD

[tampa1000]

I also think that we need to clarify a very HUGE misconception....

I see almost daily that people assume that DINAR is being sold at the CBI auction at the published rates shown on the home page of CBI......

The way I understand it, the DINAR is being PURCHASED by the CBI at these rates, NOT SOLD at these rates. (Thus bringing more Dinar in to the CBI)

IF I am wrong, someone please let me know, and If I am right, please let EVERYONE that is making the false assumption aware of this so the confusion stops.

People are trying to make logical decisions based on CBI selling DINARS at these published rates which would not then make any sense.

Lets just clarify please.

Now, why the 5 spots are blank for some currencies, that has not been explained logically either.....

I think you're right on the money, they are buying Dinars thats how they are able to take 70% out of circulation. Thanks for the post, its something to study!

[wmawhite]

Fish,

I think you are correct. And I thought I had read that they are auctioning off other currencies and USD was a major one.

HD

Great discussion.................................my understand was that the CBI was selling off their huge supply of US Dollars in return for Dinars that are held by other Central Banks. OBTW........the dinars that we are buying are coming from other banks, such as the Investment Bank of Iraq, not the CBI (directly).

Of course, if I am wrong please correct me.