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Lower demand for dollar on Tuesday


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Lower demand for dollar on Tuesday

5/3/2011 3:58 PM

BAGHDAD / Aswat al-Iraq: The Central Bank of Iraq (CBI) dollar sales dropped on Tuesday to $3.515 million at an exchange rate of 1170 Iraqi dinars per dollar, compared to the previous session’s $20.936 million.

"The demand hit $3.515 million in cash today, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and no foreign transfers have been done outside the country," according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the 6 banks that participated in today’s session offered to sell dollars.

The Central Bank of Iraq runs a daily auction from Sunday to Thursday.

http://en.aswataliraq.info/Default1.aspx?page=article_page&id=142333&l=1

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I am curious ,I am not the sharpest tack in the box but while the dollar sales are down as I see it--to further dry up the 000s why not just offer a small increase in premium to take back and out of circulation the big bills, not a RV/Ri but just reduce the bills in foriegn circulation---while ,there are certainly many holders out there that can make money off of small changes of rate verses when they accumulated their dinar.

A very good example[small investors] are those who have been in this for 6 or 7 years or longer and who would be happy for .10 --big investors[whales ] would buy and sell the dinar much like a commodity----they must be getting right around their strangle point by now from tying up all that cash [with no resale value except at a loss] by now

just asking--It seems the focus has been on how many dinars are held in Iraq --mostly likely the whales hold far more already outside Iraq than the population, businesses--companies and us little guys-- Iraq has already made arrangements with governments about cashing in but maybe they are NOT the biggest holders of Dinar as we are not

this point to my knowlege has never been presented before

Capt. Cliff

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