DNRCHIEF Posted June 30, 2011 Report Share Posted June 30, 2011 I am not 100% sure what this means at this moment, actually probably not 50% sure what it means. All I know that they actually had one today. It would have been really interesting though if they didn't. Number of banks 19 Auction price selling dinar / US$ 1170 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 175,382,000 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 175,382,000 Total offers for selling (US$) Here's the link: http://www.cbi.iq/index.php?pid=CurrencyAuctions Link to comment Share on other sites More sharing options...
RVnow4meplease Posted June 30, 2011 Report Share Posted June 30, 2011 Thanks for trying Link to comment Share on other sites More sharing options...
DNRCHIEF Posted June 30, 2011 Author Report Share Posted June 30, 2011 (edited) Thanks RVnow. They appear to still be selling and somewhere in the same ball park that they always have been days off or not. I just wonder if it is related to a RV. Currently I hope it isn't but common sense tells me that they wouldn't be selling they would be holding there dinar, revalue at a fairly low rate, hope for people to cash in so they can retain as much currency of there own prior to a much larger increase in value thus less of loss on cash-in after a higher rise in value from initial rv. I would think this would make sense, but who knows like they say this is Iraq. Edited June 30, 2011 by DNRCHIEF Link to comment Share on other sites More sharing options...
FXStockpiling Posted June 30, 2011 Report Share Posted June 30, 2011 If they wanted to increase the value of the IQD they would be buying it not selling it. They must sell it to keep it from gaining value and remain at the current levels. Think of the value of a stock when the company it is for starts to do buy backs... Link to comment Share on other sites More sharing options...
redsand Posted July 1, 2011 Report Share Posted July 1, 2011 Iraq being Iraq Link to comment Share on other sites More sharing options...
Derek2011 Posted July 1, 2011 Report Share Posted July 1, 2011 Ooooh I see, so the auctions are a condition of the sanctions to keep it at 1170. So i would suppose that if they quit selling, the dinar would go up in value on its own? Link to comment Share on other sites More sharing options...
FrankenSLI Posted July 1, 2011 Report Share Posted July 1, 2011 It is a dirty float. Auctions mean very little. Link to comment Share on other sites More sharing options...
Nelson0528 Posted July 1, 2011 Report Share Posted July 1, 2011 Business as usual. Exactly what we can expect to see until the last moment. Link to comment Share on other sites More sharing options...
Recommended Posts