A large decrease in sales of Central Bank of Iraq.

[k98nights]

A large decrease in sales of Central Bank of Iraq.

Translated by Iraqdirectory.com - [8/21/2011]

Sales from Central Bank of Iraq in the first session, on Sunday, a significant decrease by about $ 65 million, to reach $ 137 million, compared to last Thursday, who scored $ 202 million.

The session saw a decline in sales of the bank to reach 137 million and 825 thousand dollars, which was covered by the bank at an exchange rate basis was 1170 dinars to the dollar, compared to last Thursday, which some of the 202 million sales and 910 thousand dollars.

And the distribution of demand by five million and 290 thousand dollars in cash, while divided the rest of $ 132 million and 535 thousand dollars in the form of remittances of Foreign Affairs has been covered by the bank in full, the exchange rate was 1183 dinars per dollar, including the commission of the bank amounting to 13 dinars per dollar, with did not make the 18 banks participating in the Iraqi Central Bank auction of any offers to sell the dollar.

http://www.iraqdirectory.com/DisplayNews.aspx?id=16590

[Dinarabot]

Funny thing is, wasnt it down in the 8-10 million range in March???

[redsand]

Isn't this because of the holiday?

[ssgaldridge]

Isn't this because of the holiday?

If any of the bank stories from Canada are true. Then maybe some banks stop selling dinar until the new rate becomes available?

If they stop selling they would not be buying. Just a thought.

[BlueOrchid919]

Funny thing is, wasnt it down in the 8-10 million range in March???

Yes, a few months ago it was very low for a few days. Don't know why you were dinged. I gave you a + to even you out.

If any of the bank stories from Canada are true. Then maybe some banks stop selling dinar until the new rate becomes available?

If they stop selling they would not be buying. Just a thought.

The sales are USD not dinars. Iraq sells off its foreign currency (USD) to keep the IQD/inflation under control.