CBI BANK

[DNRCHIEF]

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

[RVnow4meplease]

Thanks for trying

[DNRCHIEF]

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

[FXStockpiling]

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...

[redsand]

Iraq being Iraq

[Derek2011]

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?

[FrankenSLI]

It is a dirty float. Auctions mean very little.

[Nelson0528]

Business as usual. Exactly what we can expect to see until the last moment.