*** CBI Currency Auction 18-08-2011 ***

[The Machine]

Announcement No. (1962)

The latest daily currency auction was held in the Central Bank of Iraq on the 18-AUG-2011. The results were as follows:

Details Notes

Number of banks 20

Auction price selling dinar / US$ 1170

Auction price buying dinar / US$ -----

Amount sold at auction price (US$) 188,140,000

Amount purchased at Auction price (US$) -----

Total offers for buying (US$) 188,140,000

Total offers for selling (US$) -----

Currency Code Sell Buy

US dollar USD 1170.000 1168.000

Euro EUR 1693.809 1692.962

British pound GBP 1924.533 1923.571

Canadian dollar CAD 1191.446 1190.850

Swiss franc CHF 1483.266 1482.524

Swedish krona SEK 182.678 182.587

Norwegian krone NOK 217.198 217.089

Danish krone DKK 227.361 227.247

Japanese yen JPY 15.254 15.247

Special

Drawing Rights SDR 1886.180 1885.237

Indicative rates - 18.08.2011

http://www.cbi.iq/index.php?pid=Home

Edited August 18, 2011 by The Machine

[WesParsons]

I've watched this for 8 months now.....For the past 120 days the average daily auction has been approx 140 Million

If you multiply that by an average of 20 banking days a month (I'm trying to be conservative in all my numbers

You get approx 2.8Billion per month

The budget was released a while ago, has anyone figured out what their monthly monetary needs are?

Either these auctions mean nothing whatsoever with the re-valuation of the Dinar or they spell bad news .......

[detroitjazzman]

They are selling dollars....soon they have all they need....just saying

[The Machine]

They are selling dollars....soon they have all they need....just saying

Yes I think you are right .... they are selling dollars and buying dinars ..... thereby everyday they are decreasing the amount of dinars in circulation.

Every auction increases the odds of a bigger RV

on the flipside, if they are selling Dinar ........ were all fu**ed.

[LA2009]

My link

Higher central bank sales of dollars at auction on Tuesday

Tuesday, August 16 / August 2011 15:28

[baghdad - where]

Increased central bank sales of dollars at auction on Monday and reached [135] million and [819] thousand dollars after it was yesterday [124] million and [342] thousand dollars.

The total sale price of $ [1170] dinars to the dollar.

While the total number of banks that participated in the auction today [19] banks, the same number of banks that participated yesterday.

Bank did not purchase any amount of the participating banks.

The price of the sale of remittances [1183] dinars to the dollar, including the central bank and a commission of $ (13) dinars per dollar.

While the total cash sales price of [1183] dinars to the dollar, including the central bank and a commission of $ (13) dinars per dollar.

And the quantity sold in cash and seven million [560] thousand dollars and quantity sold money orders [128] million and [259] thousand dollars.

And receive a commission of the Central Bank (13) dinars per dollar with a deduction of [8] Dinars for every dollar of the amounts purchased. Finished

[Butifldrm]

They still have not updated their PDF since August 10th.

http://www.cbi.iq/documents/CBI_FOREIGN_EXCHANGE_AUCTIONS.pdf

[idplzr]

They are selling dollars....soon they have all they need....just saying

How can we tell they are selling dollars. The chart seems to say selling price of dinar is 1170. Then amount sold is listed in U.S. dollars.

The area for buying dinars is blank and so is the amount purchased for dinar. Wouldn't that mean they did not buy dinar but sold? Can anyone clarify?