CBI Currency Auction 1/19/2011

[Doc31]

Currency Auctions

Announcement No. (1817)

The latest daily currency auction was held in the Central Bank of Iraq on the 19-JAN-2011.

The results were as follows:

DetailsNotesNumber of banks18

Auction price selling dinar / US$1170

Auction price buying dinar / US$-----

Amount sold at auction price (US$)180,525,000

Amount purchased at Auction price (US$)-----

Total offers for buying (US$)180,525,000

Total offers for selling (US$)-----

Exchange rates

Dollar's exchange rates / in Baghdad markets

Spot Oil about even

Spot Gold down a little but running in a channel

Zeroes ... it's a near zero day with 18 banks participating on reasonable volume of which the cash portion is 1.65M or .91%

Yesterday much was being made of the "Indicative Rates" on the right side of the www.CBI.iq home page not being update. I posted several times trying to quell the hysteria but to no avail. Folks, how many times have I told you that the pdf wasn't updated for 7-10 days with a 1-3 day average ... exactly. They are as diligent about updating the indicative rates as they everything else. Will there come a day when they use this exact ploy to "trick" us? ... could be ... but most times it is an overworked (or lazy) webmaster.

What's in the news? ...

BUDGET 2ND READING ... still problems

Said Sari said in a statement (of the Agency news) on Tuesday: that the House read the budget once, and that the second reading will see the objections of many variations on the details and items, and would need more than a month for a vote, either ministries vacant Vstzmy on according to the consensus of political will Compatibility them outside the parliament, and that it is not expected to vote on the federal budget for 2011, and the remaining ministries and one deal.

Then of course there's this one ... 1st reading Sunday 2nd reading Monday ... #3 is a CHARM ... what's a boy to believe right?

I suggest what Frank26 advises ... don't listen to what they say but what they do.

Here's my favorite ... a Mohammed Salih article! ... cbi-submits-to-parliament-a-new-law-combating-money-laundering. It might be true it might not but don't believe it until you see two other articles by someone else ... "chicken little" is a source of DISinformation!

Here's an 2011 Iraqi Holiday Calendar (you'll need it ... so save it if you don't already have one).

With this you can compare the Iraqi Parliaments frequent "no shows" against scheduled holidays. Don't forget the CBI ... be sure and looked for their "scheduled maintence" days ... an unscheduled "NO AUCTION" will make your heart race, right up until you discover that notice!

Now this is not to be confused with the Kurd holidays (a whole different kettle of fish I'm afraid) ... After tomorrow, Thursday, and until next Tuesday a public holiday in Karbala on the occasion of Arbain

Bombs ... Bombing in Baaquba leaves 78 casulties ... URGENT / Car bomb explodes near police training center in Diala

I'd balance all of this against Frank26 post from last night.

Gotta' run

Peace

Doc31

[iceburgpens]

Thank you Doc. Isn't there a lot more holidays? It seemed like they were off every other week? Maybe as the Gov't grows stronger, they will find more reasons to take off?

[Rogue Knight]

Thank you Doc. Isn't there a lot more holidays? It seemed like they were off every other week? Maybe as the Gov't grows stronger, they will find more reasons to take off?

When they are in session, they at least make some progress. Unlike our congress, in session all the time and nothing is accomplished...just sayin

[Upgradable]

Thank you, as always, for your diligent posts.

[mrref]

Currency Auctions

Announcement No. (1817)

The latest daily currency auction was held in the Central Bank of Iraq on the 19-JAN-2011.

The results were as follows:

DetailsNotesNumber of banks18

Auction price selling dinar / US$1170

Auction price buying dinar / US$-----

Amount sold at auction price (US$)180,525,000

Amount purchased at Auction price (US$)-----

Total offers for buying (US$)180,525,000

Total offers for selling (US$)-----

Exchange rates

Dollar's exchange rates / in Baghdad markets

Spot Oil about even

Spot Gold down a little but running in a channel

Zeroes ... it's a near zero day with 18 banks participating on reasonable volume of which the cash portion is 1.65M or .91%

Yesterday much was being made of the "Indicative Rates" on the right side of the www.CBI.iq home page not being update. I posted several times trying to quell the hysteria but to no avail. Folks, how many times have I told you that the pdf wasn't updated for 7-10 days with a 1-3 day average ... exactly. They are as diligent about updating the indicative rates as they everything else. Will there come a day when they use this exact ploy to "trick" us? ... could be ... but most times it is an overworked (or lazy) webmaster.

What's in the news? ...

Then of course there's this one ... 1st reading Sunday 2nd reading Monday ... #3 is a CHARM ... what's a boy to believe right?

I suggest what Frank26 advises ... don't listen to what they say but what they do.

Here's my favorite ... a Mohammed Salih article! ... cbi-submits-to-parliament-a-new-law-combating-money-laundering. It might be true it might not but don't believe it until you see two other articles by someone else ... "chicken little" is a source of DISinformation!

Here's an 2011 Iraqi Holiday Calendar (you'll need it ... so save it if you don't already have one).

With this you can compare the Iraqi Parliaments frequent "no shows" against scheduled holidays. Don't forget the CBI ... be sure and looked for their "scheduled maintence" days ... an unscheduled "NO AUCTION" will make your heart race, right up until you discover that notice!

Now this is not to be confused with the Kurd holidays (a whole different kettle of fish I'm afraid) ... After tomorrow, Thursday, and until next Tuesday a public holiday in Karbala on the occasion of Arbain

Bombs ... Bombing in Baaquba leaves 78 casulties ... URGENT / Car bomb explodes near police training center in Diala

I'd balance all of this against Frank26 post from last night.

Gotta' run

Peace

Doc31

THANKS DOC, GOOD POST. .. I AM GOING INTO MY 8TH YEAR AND HAVE DONE A LOT OF STUDYING OVER THE COURSE, SO MY OPINION IS THAT WE ARE STILL A WAYS OFF FROM A RV..

[iceburgpens]

I agree Rouge, I hope Iraq doesn't follow our Congress's precedence!!

[PacoTaco]

Thanks Doc!

[sunshinelvr]

Doc31 Thank s so much for a beautifully simple breakdown of confusing information. Your posts are so eloquent and easy to understand! Keep up the great work and thank you for being such a great newhound team member!

[pleasantvalleySunday]

Doc31 Thank s so much for a beautifully simple breakdown of confusing information. Your posts are so eloquent and easy to understand! Keep up the great work and thank you for being such a great newhound team member!

what SHE said!! Thanks Doc31!

(yepper sun .. I'm followin' you around the forum this am!

[Doc31]

Oil off a bit at $90.62 at this hour

[Squaredaway]

To: mrref

Re: your comment:

"THANKS DOC, GOOD POST. .. I AM GOING INTO MY 8TH YEAR AND HAVE DONE A LOT OF STUDYING OVER THE COURSE, SO MY OPINION IS THAT WE ARE STILL A WAYS OFF FROM A RV."

It's my understanding that on this past Sunday, the third version of the budget was presented to Parliament and approved, opening the door for the CBI to RV. What makes you feel that it's "a ways off?" Do you have intel from any reliable source, to support your opinion, in the Iraqi, U.S. governments or CBI? Are the chat room moderators being overly optimistic by saying the RV should occur any minute, now?

[surfpunk]

Looks like GID and Associates has now lowered their price from 1230 usd/1 million IQD to now 1150 usd/1 million IQD, and also they have indicated that they are offering the 10K notes, new and uncirculated as well as their usual 25K notes. Just for the thought.

[Doc31]

Looks like GID and Associates has now lowered their price from 1230 usd/1 million IQD to now 1150 usd/1 million IQD, and also they have indicated that they are offering the 10K notes, new and uncirculated as well as their usual 25K notes. Just for the thought.

Interesting ... a friend contacted me to day to tell me that he had some on reserve ... when he received them ... they were 10K notes ... he was very surprised!

[aferriss]

Wow!! They have lots of holidays and many more made up ones. If I had all that time off I'd never get anything done. LOL Thanks again, Doc, for all you do. You're very much appreciated!!