CBI Currency Auction 2/3/2011

[Doc31]

Currency Auctions

Announcement No. (1828)

The latest daily currency auction was held in the Central Bank of Iraq on the 3-FEB-2011.

The results were as follows:

DetailsNotesNumber of banks19

Auction price selling dinar / US$1170

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

Amount sold at auction price (US$)181,187,000

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

Total offers for buying (US$)181,187.000

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

Exchange rates

Dollar's exchange rates / in Baghdad markets

Oil is up $.70

Gold ... it's still running in about a $13 channel. I keep getting questions on what a channel is so here's a visual. The gold lines are mine showing the margins of the channel and it's range ... about $1329 to $1342

Zeroes ... well, on 181M volume and 19 banks participating 2.419M cash portion. That is the largest cash portion since Oct 6th (although it was small in comparison to previous Oct 6th was about 4X this). That pattern that we saw forming up earlier in the week seems to be decimated (or no pattern at all but perhaps a lack of caffeine on someone's part!).

Iraq prepares to resume Kurd oil exports

Reuters - Thursday, February 3* Shahristani says Kurd oil flow begins at 10,000 bpd

* Local officials say yet to start shipments

By Ayla Jean Yackley and Aseel Kami

ISTANBUL, Feb 2 - Iraq is very close to resuming crude oil exports from the Kurdish region with the initial flow expected at 10,000 barrels per day from the Tawke field, the government and regional officials said on Wednesday.

Iraqi Deputy Prime Minister Hussain al-Shahristani told Reuters that oil exports had begun to flow at 10,000 barrels per day, but regional oil officials said so far they were still in the final stages of preparing to start exports.

"Oil should have started pumping on Feb 1. There was a one day delay. They started it today," Shahristani, Iraq's former oil minister, said in an interview at an energy conference in Istanbul.

"They are increasing it gradually. I think they started this morning at about 10,000 barrels and they are going to increase," he said.

A source close to Norway's DNO one of the operators of the Tawke field, said so far oil had only been pumped into a pipeline in preparation for resuming exports and two officials with Iraq's North Oil Company said no oil had been exported yet.

I know that this was up yesterday ... regardless of the present date. This source is Reuters ... I know me too. It was pointed out that this was a typical "we are pumping oil" ... "well, not really, we are only ready to" article. Lol ... that observation is so true of the news that comes out of the Middle East.

I got a call early this morning from a friend that saw another such article (sorry no link ... I forgot to ask ... zero caffeine ... you know how I am!) that in fact they had actually begun. IF TRUE ... IMO ... that would seem to be the pertinent news of the day. I don't see it posted yet. If the link comes up someone please post it. I will not be on today to do it. Remember ... IF TRUE!

Maliki: No one is immune from accountability in Iraq

This one is referring to terrorism and bombings ... it just made me laugh and say "uh, huh" (a reported 1B IQD over the border by his son ... $250M confiscated by Swiss in possession of his top aid ... now he's named his son as his top aid ... failure is unacceptable apparently.) Too funny.

Kuwaiti dinar is up but only a bit.

I just checked the big two vendors in the US and their price is just a bit lower ... buy back prices are slightly lower as well.

Frank26 reported last night that hundreds to thousands of contracts were canceled yesterday ... it's going to take a few days to sort that out ... let's just kick-back, wait and watch. There are at least two sides to that ... the one that says "uh, oh ... that's not good" and the one that says "you know what that means (wink, wink)"!

Gosh ... I've already run out of time ... not much substance this morning ... sorry ... oops, still 1/2 a cup in my cup. You are on your own.

Peace

Doc31

[Liljohn]

Thanks Doc you are the Man!!!

God Bless!!!

[dflake]

Nice Doc, thanks. Did not have much time early am to look thru the news. Much appreciated.

[Anita]

Thank you DOC! I appreciate your post.

[Alonzo]

Way to keep us informed, Doc. Much appreciated!

[MADELAMO]

Thanks Doc. I have also noticed that the Kuwaiti Dinar has risen slightly in the last couple of days. Maybe another sign that a RV is soon. We will see. Once again thanks.

[dinariac]

As always, thanks Doc I'm on my second mug of "Joe" and I'm still behind the power curve Guess it's the currently COLD weather here in San Antonio!!! By the way, do you have any perspective in regards to Al Gore's global warming theories

RRRVVVVVV T T T T T T T T I I I I I I I M M M M M M M M E E E E E E E :woot:

[iceburgpens]

Finally, something worth reading!!!!!!! Thank you Doc

[mlay901]

Thanks Doc!

[Soldiering4U]

I will make you a new pot when you get back LOL thanks for the info and as always doc you are the best at what you do

[beagle]

Thanks for the update, Doc! And I love your sense of humor!

[akfireball]

I don't usually reply to any post on here....but figured it was time to thank you DOC31. Keep up the good work!

[blue horseshoe]

As always, thanks Doc I'm on my second mug of "Joe" and I'm still behind the power curve Guess it's the currently COLD weather here in San Antonio!!! By the way, do you have any perspective in regards to Al Gore's global warming theories

RRRVVVVVV T T T T T T T T I I I I I I I M M M M M M M M E E E E E E E :woot:

Hey - I am in Uvalde.. There are three of us here. Good to have another friend close by when the party begins...

[gp49]

Thank you, thank you once again Doc! I have been looking for your posts for days. You really do help ground us. Please keep safe and keep keeping us informed.

Be Blessed!

gp49

[aferriss]

Thank you, Doc!!!

[NotReallyTex]

Thanks Doc

[Doc31]

Remember that channel gold has been in for days? Well at noon it shot up NOT went up $20

[Mntnman]

Cheers Doc. Raising a glass to you for your daily reports.

Smokin'!

[dinariac]

Hey - I am in Uvalde.. There are three of us here. Good to have another friend close by when the party begins...

There are quite a few of us here in San Antonio, I personally know five. We're all pulling our hair out with all the misinformation out there as of late. I've looked at some property in Uvalde , looking to migrate out of SA after the RV. The traffic here is :wacko:

RRRRVVVVVVV T T T T T T T T T I I I I I I I M M M M M M M E E E E E E E :woot:

[Doc31]

Dated Brent Crude $101.57

[Rogue Knight]

Dated Brent Crude $101.57

Holy crap!!!!!

[techalum]

thanks for all of your hard work, Doc!

We are getting very close!