The Machine Posted June 21, 2011 Report Share Posted June 21, 2011 (edited) Announcement No. (1923) The latest daily currency auction was held in the Central Bank of Iraq on the 21-JUN-2011. The results were as follows: Details Notes Number of banks 22 Auction price selling dinar / US$ 1170 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 152,557,000 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 152,557,000 Total offers for selling (US$) ----- Currency Code Sell Buy US dollar USD 1170.000 1168.000 Euro EUR 1665.495 1664.662 British pound GBP 1891.773 1890.827 Canadian dollar CAD ----- ----- Swiss franc CHF 1381.183 1380.492 Swedish krona SEK 181.224 181.133 Norwegian krone NOK 210.118 210.013 Danish krone DKK 223.274 223.162 Japanese yen JPY 14.589 14.581 Special Drawing Rights SDR 1862.827 1861.896 Indicative rates - 21.06.2011 Edited June 21, 2011 by The Machine 1 Link to comment Share on other sites More sharing options...
zul Posted June 21, 2011 Report Share Posted June 21, 2011 These daily auctions are for foreign currencies..mostly USD. Could we safely assume that these banks are buying these currencies from CBI using IQDs..? A lot of IQDs end up in CBI, if you look at the daily auctions. Link to comment Share on other sites More sharing options...
HYDRANT Posted June 21, 2011 Report Share Posted June 21, 2011 THANKS FOR THE UP DATE----MACHINE Link to comment Share on other sites More sharing options...
RonSkilbeck Posted June 21, 2011 Report Share Posted June 21, 2011 I don't guess Okie's predictions have gotten to the CBI yet... Thanks for the Post - looks like business as usual. Link to comment Share on other sites More sharing options...
dreardon Posted June 21, 2011 Report Share Posted June 21, 2011 These daily auctions are for foreign currencies..mostly USD. Could we safely assume that these banks are buying these currencies from CBI using IQDs..? A lot of IQDs end up in CBI, if you look at the daily auctions. I have the same question, that would be really good if that was the case. What if it is the other way tho and they are selling dinar for usd. Is that an option and if so will it hurt our investment. Link to comment Share on other sites More sharing options...
FrankenSLI Posted June 21, 2011 Report Share Posted June 21, 2011 No real signifigant changes... Thanks for the info! Link to comment Share on other sites More sharing options...
lionfish Posted June 21, 2011 Report Share Posted June 21, 2011 IF you look back at the auctions this past week, it has been on average 10 million or so per bank. Today it is 22 banks at 152.7 million. So more banks participated for less money each.. -lionfish Link to comment Share on other sites More sharing options...
tandy Posted June 21, 2011 Report Share Posted June 21, 2011 thanks for the update...looks fairly stable right now Link to comment Share on other sites More sharing options...
bamagirl Posted June 21, 2011 Report Share Posted June 21, 2011 I have come to the conclusion that I really don't think the auctions have a bearing on the RV, IMO. Link to comment Share on other sites More sharing options...
dinarx2 Posted June 21, 2011 Report Share Posted June 21, 2011 The banks purchase dollars using IQD The CBI has been buying up IQD for months if you check Doc31's past posts I believe the CBI has been doing this since last october. That IS a lot of Dinar taken off the streets Link to comment Share on other sites More sharing options...
20MillionDinar Posted June 21, 2011 Report Share Posted June 21, 2011 The banks purchase dollars using IQD The CBI has been buying up IQD for months if you check Doc31's past posts I believe the CBI has been doing this since last october. That IS a lot of Dinar taken off the streets If this is the case then this is excellent news. I have heard different scenarios from multiple sources, I could use a little clarity here. Does the Central Bank auction off USD? How do the other banks pay for the USD? Is it with IQD? Link to comment Share on other sites More sharing options...
dinarx2 Posted June 21, 2011 Report Share Posted June 21, 2011 The CBI auctions currency 5 days a week. Mostly they buy Dinar and sell dollars. They get a premium for selling dollars about 15 dinar over the going rate, it is their commission. They used to sell as much dinar as they did dollars but last year about october the sales of dinar dropped significantly and at one point asctually stopped for about 60 days. So the CBI has taken a large amount of Dinar off the street of Iraq. Like I said read Doc31's post about the zero days Link to comment Share on other sites More sharing options...
20MillionDinar Posted June 21, 2011 Report Share Posted June 21, 2011 The CBI auctions currency 5 days a week. Mostly they buy Dinar and sell dollars. They get a premium for selling dollars about 15 dinar over the going rate, it is their commission. They used to sell as much dinar as they did dollars but last year about october the sales of dinar dropped significantly and at one point asctually stopped for about 60 days. So the CBI has taken a large amount of Dinar off the street of Iraq. Like I said read Doc31's post about the zero days Dinarx2, thank you for the clarification. This is actually very good news I would expect. I use to read Doc31's posts all the time, but I got confused because of different people's input on the matter. Thanks again for clearing this up for me once again. Keep, where are you at? I would like your input on the auctions and the affect it could have on the Dinars in circulation. Do you think the currency auctions are helping reduce the currency in circulation? If the CBI is bringing in the IQD's is it still considered "currency in circulation?" Thanks in advance. Link to comment Share on other sites More sharing options...
RodandStaff Posted June 21, 2011 Report Share Posted June 21, 2011 The banks purchase dollars using IQD The CBI has been buying up IQD for months if you check Doc31's past posts I believe the CBI has been doing this since last october. That IS a lot of Dinar taken off the streets That is good news if I understand it right. Thanks for the clarity! Go RV! Link to comment Share on other sites More sharing options...
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