Central sells $ 198 million in auction

[tamiflyer]

Central sells $ 198 million in auction

19/07/2011 01:22 م 19/07/2011 13:22

BAGHDAD/ Aswat al-Iraq: Sales of the Iraqi Central Bank, on Tuesday, the amount of $ 198 million in the auction for the sale and purchase of foreign currencies, exchange rate based on the price of 1170 dinars per dollar, a high figure for the previous session, which stood at 135 million.

The bulletin issued by the Central Bank and received by the agency (Voices of Iraq) a copy of it that "the total volume of demand on the dollar stood at 198 million and 139 thousand dollars, covered by the central bank at an exchange rate basis was 1170 dinars per dollar."

The Central sales during the previous session, $ 135 million and 757 thousand dollars.

And distributed auction sales on the "cash sales of $ seven million and 200 thousand dollars at the exchange rate was 1183 dinars per dollar," inclusive "commission of the central bank 13 dinars per dollar."

As sales orders, "$ 190 million and 939 thousand dollars at the exchange rate was 1183 dinars per dollar," inclusive "commission of the central bank 13 dinars per dollar."

The bulletin indicated that "did not make any of the 20 banks participating in the auction, offers to sell the dollar."

And hold the Iraqi Central Bank auction of five meetings a week starting from Sunday to Thursday for the sale and purchase of foreign currencies, and receive a cash commission on the sale of about 13 dinars per dollar, and receive a commission of 13 dinars per dollar on the sale of remittances outside the country.

م د(خ)- M d (x) -

http://translate.goo...taliraq.info%2F

Awesome information. Iraq is "Selling dollars not buying them! Take that trolls and lopsters. Let's get ready. Not many issues left for an RV. GLTA and Go RV.

[RVDinar4MyFamily]

Central sells $ 198 million in auction

19/07/2011 01:22 م 19/07/2011 13:22

BAGHDAD/ Aswat al-Iraq: Sales of the Iraqi Central Bank, on Tuesday, the amount of $ 198 million in the auction for the sale and purchase of foreign currencies, exchange rate based on the price of 1170 dinars per dollar, a high figure for the previous session, which stood at 135 million.

The bulletin issued by the Central Bank and received by the agency (Voices of Iraq) a copy of it that "the total volume of demand on the dollar stood at 198 million and 139 thousand dollars, covered by the central bank at an exchange rate basis was 1170 dinars per dollar."

The Central sales during the previous session, $ 135 million and 757 thousand dollars.

And distributed auction sales on the "cash sales of $ seven million and 200 thousand dollars at the exchange rate was 1183 dinars per dollar," inclusive "commission of the central bank 13 dinars per dollar."

As sales orders, "$ 190 million and 939 thousand dollars at the exchange rate was 1183 dinars per dollar," inclusive "commission of the central bank 13 dinars per dollar."

The bulletin indicated that "did not make any of the 20 banks participating in the auction, offers to sell the dollar."

And hold the Iraqi Central Bank auction of five meetings a week starting from Sunday to Thursday for the sale and purchase of foreign currencies, and receive a cash commission on the sale of about 13 dinars per dollar, and receive a commission of 13 dinars per dollar on the sale of remittances outside the country.

م د(خ)- M d (x) -

http://translate.goo...taliraq.info%2F

Awesome information. Iraq is "Selling dollars not buying them! Take that trolls and lopsters. Let's get ready. Not many issues left for an RV. GLTA and Go RV.

You are really excited about information that gets posted everyday. This is nothing new, it is what has been happening for a long time.

Sorry, not trying to burst your bubble, just keeping it real

[MotorCity]

This is great news! A small step for Iraq, and soon a giant step for Mankind!

God Bless America. America, Bless God!

[tamiflyer]

You are really excited about information that gets posted everyday. This is nothing new, it is what has been happening for a long time.

Sorry, not trying to burst your bubble, just keeping it real

Very exited since Iraq was using the wrong translators since it all begun, which made most of these articles ambiguous and missleading. These are now starting to be very positive with the right syntax and context, not too missleading and with music to my ears! Thank you for your post and perhaps you may see the enthusiasm later on with more news to follow. GLTY and all. Go RV.

[Primma]

So they are buying back the dinar???

[tamiflyer]

So they are buying back the dinar???

Hello.

It sure looks that way. They are getting rid of the dollar and receiving dinars and then buying some foreing currency to strengthen their assets and foreign relations. IMMHO, they are also lowering the M2 with the purchase of these dinars. Notice the price and the commission too. This all adds up in the long run. No date and rate here. I will never do that. I am not a gury, pumper nor lopster either. I am a realist that stays focused on news, policy and just follow the money trail. GLTY and all. Go RV.

Edited July 20, 2011 by tamiflyer

[NWGUY]

Hello.

It sure looks that way. They are getting rid of the dollar and receiving dinars and then buying some foreing currency to strengthen their assets and foreign relations. IMMHO, they are also lowering the M2 with the purchase of these dinars. Notice the price and the commission too. This all adds up in the long run. No date and rate here. I will never do that. I am not a gury, pumper nor lopster either. I am a realist that stays focused on news, policy and just follow the money trail. GLTY and all. Go RV.

Hey....don't give up on being a Guru....I practiced early today, and everyone loved it!!! Just throw some stuff out there, PUT IT IN CAPS!! Finish with a "SO LET IT BE WRITTEN, SO LET IT BE DONE" and "GONE", and now you are a GURU!!!!

Just trying to help you to be someone!!! lol

Go RV!!!

[tamiflyer]

Hey....don't give up on being a Guru....I practiced early today, and everyone loved it!!! Just throws stuff out there, PUT IT IN CAPS!! Finish with a "SO LET IT BE WRITTEN, SO LET IT BE DONE" and "GONE", and now you are a GURU!!!!

Just trying to help you to be someone!!! lol

Go RV!!!

LOL. I read that one. Very funny stuff! Thank you for your humor. GLTY and all. Go RV.

[NWGUY]

LOL. I read that one. Very funny stuff! Thank you for your humor. GLTY and all. Go RV.

Just trying to help you to the next level. You are posting good intel, and now, just have to put your thoughts in CAPS! You too can ROCK!!!!

Go RV!!!

remember, behind every good GURU, there is someone with a sense of humor!!!

[vrnorth]

HUGE NUMBERS today.

Thank's

[TFK]

So they are buying back the dinar???

For years, the CBI auctions have been selling billions of USD to the local banks in return for their dinar. Rarely has it gone the other way around and never in such huge daily amounts! The people use dollars just as much as dinar in daily transactions. Their GDP is growing at 10% a year for the past few years. Can you imagine that here in North America. Our economies would be overheating like crazy, inflation would rear it's head, wages would go up and interest rates would skyrocket. Sounds bad, but this is the best scenario any country could hope for!!!

They have been continually removing dinar from the money supply and allowing the banks to create their own liquidity with USD, government securities and customer deposits. They want to strengthen their banks prior to rv or they'll never be able to survive the investment onslaught about to descend on Iraq.

The banks have to be stable. The last thing Iraq wants is a run on local banks that they cant handle. According to the CBI there are already some banks having a hard time staying liquid and the CBI has to intervene to make sure they have proper reserves. The CBI literally becomes the "Lender of Last Resort" for these wayward banks. I wouldn't doubt it if we don't see a few of them fail or get taken over by stronger banks. When it rv's, and it will, and reconstruction starts in earnest, the Iraqi banks are going to be overwhelmed with the influx of foreign investors. It's going to be amazing to watch and be a part of! We'll be there before anybody, because we're already invested!!! Lets hope they're ready when the hammer falls! :D

Whoot Whoot!!!

[keepmwlknfny]

This actually isent reducing the money supply or M2 as your saying......they are selling USD for the most part for a profit, sometimes they sell dinar but the auctions are used to control inflation.....not to reduce the money supply.......they have been holding these auctions for years now and the physical currency outside the banks has been going up pretty consistantly....

[TQueezy]

This actually isent reducing the money supply or M2 as your saying......they are selling USD for the most part for a profit, sometimes they sell dinar but the auctions are used to control inflation.....not to reduce the money supply.......they have been holding these auctions for years now and the physical currency outside the banks has been going up pretty consistantly....

Which physical currency, keep? Dinar? Not likely, as they are receiving those back from selling USD to the banks. I'm sure there's still a lot of dinar in circulation, but at 200+ billion dinar a day being purchased by the CBI, ~ 27 trillion won't last very long... USD doesn't contribute to a post-RV money supply, btw. I don't care what anyone says. They will trade that post-RV USD back in for higher value Dinar and keep the USD in their reserves to strengthen their newly RV'd dinar even more.

[keepmwlknfny]

Which physical currency, keep? Dinar? Not likely, as they are receiving those back from selling USD to the banks. I'm sure there's still a lot of dinar in circulation, but at 200+ billion dinar a day being purchased by the CBI, ~ 27 trillion won't last very long... USD doesn't contribute to a post-RV money supply, btw. I don't care what anyone says. They will trade that post-RV USD back in for higher value Dinar and keep the USD in their reserves to strengthen their newly RV'd dinar even more.

Yes dinar....the CBIs financial indicators arent for the USD in the country.....neither are the audits done by Ernst and Young and now PWC.....its to show how much dinar they have and where.....dont you think that after YEARS of the auctions, that if it really was removing currency from circulation, or reducing M1,M2 and any other M's that they wouldnt have nearly as much as what they do now?? How do you explain the numbers growing steadily since 2002??? The numbers would be steadily going down if what the OP is stating is true.....not to mention they still do sell dinar in SOME of the auctions.....dinar keeps getting printed every year....if they wanted to get a handle on the money supply and reduce M2, they woulda stopped printing awhile ago..... If they were to keep all the USD and dropped it in the reserves to back the currency WITHOUT reducing the money supply, it better be a ton of USD.......