CBI sells 211(m) US dollars in Sunday session

[k98nights]

CBI sells 211(m) US dollars in Sunday session

9/11/2011 2:12 PM

BAGHDAD / Aswat al-Iraq: The Central Bank of Iraq (CBI) has sold 211 million US dollars in its Sunday auction for selling and buying foreign currencies, on an average rate of 1,170 Iraqi dinars per dollar, registering a higher figure of Saturday sales that reached 200 million, the CBI’s daily bulletin reported.

“The total size of the demand on the US dollar on Sunday had reached 211,735,000 dollars, covered by the CBI on an average rate of 1,170 dinars per dollar,” the bulletin, received by Aswat al-Iraq news agency stressed.

The CBI’s previous session had registered 200,780,000 US dollars.

“The CBI’s today’s cash sales reached 7, 690,000 US dollars, on AN average exchange rate of 1,183 dinars per dollar, including the Bank’s interest rate of 13 dinars per dollars,” the bulletin added.

It pointed out that the CBI’s today's foreign transfers had reached 204,45,000 dollars, on an average exchange rate of 1,183 dinars per dollar, including the Bank’s interest rate of 13 dinars per dollar.

The bulletin repeated its daily comment that none of the banks that attended the sessions, including the 24 banks that attended it today, had offered any dollar for sale.

The CBI holds 5 sessions weekly, beginning on Sunday and ending on Thursday, for the sale and purchase of foreign currencies, charging 13 dinars per dollar, along with another 13 dinars per dollar for its foreign transfers.

SKH (TR)/SR

http://en.aswataliraq.info/Default1.aspx?page=article_page&id=144780&l=1

[Elixirbaby]

Educate me. Is that a good thing?

Go RV

[ashtray]

iraq has enough dollars to buy back all the iraqi dinars 2 times over .. .. they need to buy up the dinars to get rid of them ... burn them .. and revalue the remaining currency.. they have been buying back around a half a trillion dinars a week ....i hope they are burning them

[Alex38]

iraq has enough dollars to buy back all the iraqi dinars 2 times over .. .. they need to buy up the dinars to get rid of them ... burn them .. and revalue the remaining currency.. they have been buying back around a half a trillion dinars a week ....i hope they are burning them

and I like it

[Carrello]

Educate me. Is that a good thing?

Go RV

It is just ok. Nothing out of the ordinary, up or down. Status quo.

[cheerful1]

so if they are selling us dollars for dinars and taking the dinars out of circulation, then on Sunday alone, they took another 246,000,000,000(246 billion) out of circulation.

This is what we want to see. It reduces the revaluation liability. The less dinar in circulation, the less they have to put the new rate to.

This is how I see it.

Always trying to be the

Cheerful1

[Mazzz27]

exactly...that is what they need to do. I hope to god this is what theyre doing.

[Elixirbaby]

Thanks all. I have noticed that their buys have been larger this past week.

Go RV

[RAGARCIA62]

they cant have mine until they rv. go rv

[truthful1]

iraq has enough dollars to buy back all the iraqi dinars 2 times over .. .. they need to buy up the dinars to get rid of them ... burn them .. and revalue the remaining currency.. they have been buying back around a half a trillion dinars a week ....i hope they are burning them

if the cbi was buying back a half trillion dinar per week, there would be no dinars in circulation. i find your statement inaccurate.

[colts469]

oh but there not taking mine

[Nottoolate]

Not getting mine either until the RV

[aliciadogz]

I just want to know why, do Amerian Banks buy them, on the floor over in Iraq and bring them to the States?If they want to get them off the streets.

[zul]

if the cbi was buying back a half trillion dinar per week, there would be no dinars in circulation. i find your statement inaccurate.

GOI buys dinar from CBI to pay for salaries, contracts and other stuff that govt has to pay....so the dinar is circulated back into the market. But not as much as what CBI gets daily thru the daily auctions, i guess.

[ashtray]

if the cbi was buying back a half trillion dinar per week, there would be no dinars in circulation. i find your statement inaccurate.

.. well have fun ! with your findings ..

actually they are buying back around 750 billion dinars a week on average .,.. havent you been following these auctions ?... how many dinars would it take to buy 200 million dollars as they bought today ?.. like 200 billion dinars .. .. 5 days like that is a trillion dinars .... its usually around 150 million dollars a day 5 days a week .. today was a good day

[familyguy]

they cant have mine until they rv. go rv

I'm with you there. NOT GIVING IT UP UNTIL RV.

[ashtray]

Another PRIME example of misinterpreting information right in front of you to continue to hype.

THEY ARE SELLING THIS NUMBER= 211 MILLION DINARS FOR US DOLLARS AT THE LISTED RATE IN THE AUCTION.

C'mon guys!!!!!

THEY HAVE NOT BOUGHT ANY DINARS BACK!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

' ya i mis read this >>>

pointed out that the CBI’s today's foreign transfers had reached 204,45,000 dollars, on an average exchange rate of 1,183 dinars per dollar

Read more:

it says 20,45,000.. dinars .. at 1183 dollars per dinar .. sorry.. i have a hard time reading those articles .. when they say dollars it means dinars and if it says dinars it really means dollars .. so just switch the words around and you will see the real story .. .. so go back and re read the story .. and switch the words as you read it ....

BAGHDAD / Aswat al-Iraq: The Central Bank of Iraq (CBI) has sold 211 million US dollars in its Sunday auction for selling and buying foreign currencies, on an average rate of 1,170 Iraqi dinars per dollar

Read more:

switch it around you pumpers

so the cbi had a fantastic day of selling 211 thousand dollars worth of dinars .. now i get it

thanks tropheus .. i appreciate the intell

Edited September 11, 2011 by ashtray

[Mazzz27]

' ya i mis read this >>>

pointed out that the CBI’s today's foreign transfers had reached 204,45,000 dollars, on an average exchange rate of 1,183 dinars per dollar

Read more:

it says 20,45,000.. dinars .. at 1183 dollars per dinar .. sorry.. i have a hard time reading those articles .. when they say dollars it means dinars and if it says dinars it really means dollars .. so just switch the words around and you will see the real story .. .. so go back and re read the story .. and switch the words as you read it ....

BAGHDAD / Aswat al-Iraq: The Central Bank of Iraq (CBI) has sold 211 million US dollars in its Sunday auction for selling and buying foreign currencies, on an average rate of 1,170 Iraqi dinars per dollar

Read more:

switch it around you pumpers

so the cbi had a fantastic day of selling 211 thousand dollars worth of dinars .. now i get it

thanks tropheus .. i appreciate the intell

so this seems bad...

[ashtray]

i give up ....lol

[Mazzz27]

i give up ....lol

lol sorry....im trying to determine if youre being sarcastic in your last post to tropheus.

[tyron]

so this seems bad...

No Mazzz the guy was mistaking dollar for dinars. Ash was being sarcastic. To start with, just imagine if all the dinars CBI was transacting with was only 221million dinars. How little is that, huh?

[MrFnHappy]

iraq has enough dollars to buy back all the iraqi dinars 2 times over .. .. they need to buy up the dinars to get rid of them ... burn them .. and revalue the remaining currency.. they have been buying back around a half a trillion dinars a week ....i hope they are burning them

There's the problem, I can't find any evidence that they are burning them (I wish I could). All official publications indicate the opposite, as Iraq's M2 has done nothing but rise.

[tyron]

There's the problem, I can't find any evidence that they are burning them (I wish I could). All official publications indicate the opposite, as Iraq's M2 has done nothing but rise.

What else could they be doing with them? Any ideas, anybody?

[MrFnHappy]

What else could they be doing with them? Any ideas, anybody?

They get put back in circulation. The GOI buys dinar with USD from oil sales, the CBI sells those USD from the GOI for dinar at auction and the CBI sells those dinar back to the GOI.....round and round she goes, where she stops, nobody knows.....

Edited September 11, 2011 by MrFnHappy

[ashtray]

What else could they be doing with them? Any ideas, anybody?

..

ministry of finance uses them ...to fund the goi .. i think theres 7 million iraqis that get 150 thousand dinars a month.. welefare .... i hope they are reducing their cash bloc.. some .. but who knows .. the cbi is incharge of iraqs foriegn currency .. .. they have all those billions from oil sales in their reserves .. people in iraq want to use dollars instead of dinars ,, its just easier to use ...so the banks in iraq buy them daily to fund the daily operations in iraq .. .. day to day transactions .. about 150 to 200 million dollars a day operating costs ... i hope they model the dinar after the dollars .. the whole system .. quarters dimes nickles pennys .. i dinar ...5 dinar .. 10 dinar .. 20 dinar .. 50 dinar .. 100 dinar .250dinar..500dinar..1000dinar...2500dinar. the largest .. just delete one zero and rv to dollar for dinar .. they dont need to delete 3 zeros .. .. who knows what their plan is ..

what ever it is .. it will be different from anything they have talked about publically so far .. .. they publish the deficit for next year at 38 billion dollars .. they publish inflation problems .. they are steering people away from the dinar ... but they claim they want iraqis to use the dinar .. this cant go on very long or it will destroy the dinar .. i persomnally think its close .. but they will make it seem a long way off and a redonomination that would steer you away from it .. i think the day will come when the iraqi citizen will be dancing in the streets .. and we wont miss it .. it will hit the ap wire and the whole world will know the iraqi dinar value so it can be accepted globally .. it wont be some secret we have to hunt down and look for

Edited September 11, 2011 by ashtray