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CBI Sells 197 million US dollars


Sara Johnson
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Highercentral bank sales by about $ 17 million

Author: HM Editor: NQ Tuesday 27 September 2011 08:57 GMT

Alsumaria News / Baghdad

Sales from the Iraqi Central Bank, on Tuesday, a big increaseby about $ 17 million to reach more than $ 197 million, compared to the day onMonday, which registered a nearly $ 180 million.

The session saw, today, a big increase in sales of the bankto up to 197 000 590 thousand dollars had been covered by the bank at anexchange rate basis was 1170 dinars to the dollar, compared to day, on Monday,reaching sales of the bank 180 million and 183 thousand dollars.

And the distribution of demand by nine million and 750thousand dollars in cash, while divided the rest of $ 187 000 840 thousanddollars in the form of remittances external covered by the bank in full, theexchange rate was 1183 dinars per dollar, including transactions with the bankamounting to 13 dinars per dollar, with did not make the banks participate inthe auction and the 25 banks in any offers to sell the dollar.

And established the Iraqi Central Bank as a bank independentunder the law issued on the sixth of March of 2004, as an independent body andis responsible for maintaining price stability and the implementation ofmonetary policy, including exchange rate policies and management of foreignreserves and the issuance of currency management, as well as regulate thebanking sector to promote the system competitive financial and independent.

The Central Bank of Iraq are daily sessions for buying andselling foreign currencies with the exception of public holidays by the Bankdepends on those auctions.

http://www.alsumarianews.com/ar/3/28781/news-details-.html

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CBI sells 197 million US dollars in Tuesday auction

September 27 2011

BAGHDAD / Aswat al-Iraq: The Central Bank of Iraq (CBI) has sold 197 million U.S.dollars in its Tuesday auction for the sale and purchase of foreign currencies, at an average exchange rate of 1,170 dinars per dollar, registering a higher sale than Monday’s auction that recorded 180 million dollars, the CBI’s daily bulletin reported.

“The total size of the demand on the U.S.dollar had reached 197 million, 590,000 dollars, covered by the CBI on an exchane rate of 1,170 dinars per dollar, the bulletin stressed.

The Bank’s Monday sales had reached 180 millions and 573,000 dollars.

Today’s sales were distributed through cash sales of 9 million, 750,000 dollars, on an exchange rate of 1,183 dinars per dollar, including the CBI’s interest of 13 dinars per dollar, the bullet added.

The bulletin noted that none of the banks that attended the auction, including the 25 banks that shared in Tuesday’s auction, offered dollars for sale.

The Central Bank of Iraq holds 5 weekly sessions, beginning on Sunday and ending on Thursday for selling and buying foreign currencies, charging a 13 dinar interest per dollar, whilst it charges 13 dinars per dollar for its foreign transfers.

http://en.aswataliraq.info/Default1....&id=145052&l=1

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CBI sells 197 million US dollars in Tuesday auction

September 27 2011

BAGHDAD / Aswat al-Iraq: The Central Bank of Iraq (CBI) has sold 197 million U.S.dollars in its Tuesday auction for the sale and purchase of foreign currencies, at an average exchange rate of 1,170 dinars per dollar, registering a higher sale than Monday’s auction that recorded 180 million dollars, the CBI’s daily bulletin reported.

“The total size of the demand on the U.S.dollar had reached 197 million, 590,000 dollars, covered by the CBI on an exchane rate of 1,170 dinars per dollar, the bulletin stressed.

The Bank’s Monday sales had reached 180 millions and 573,000 dollars.

Today’s sales were distributed through cash sales of 9 million, 750,000 dollars, on an exchange rate of 1,183 dinars per dollar, including the CBI’s interest of 13 dinars per dollar, the bullet added.

The bulletin noted that none of the banks that attended the auction, including the 25 banks that shared in Tuesday’s auction, offered dollars for sale.

The Central Bank of Iraq holds 5 weekly sessions, beginning on Sunday and ending on Thursday for selling and buying foreign currencies, charging a 13 dinar interest per dollar, whilst it charges 13 dinars per dollar for its foreign transfers.

http://en.aswataliraq.info/Default1....&id=145052&l=1

This version of the article makes it clear that the CBI is selling dollars. They are being paid in dinar. They are sucking in more dinar, so they will have it in their possession. The amounts are not that unusual, I do not know why it would make headline news for them.

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I agree, they have been removing D's for over 18+ months. Less money to pay out after RI/RV. IMHO biggrin.gif

Actually thats not true. the cbi is selling dollars for dinars and then putting them into the economy. thats why the m2 is growing ever month to over 30 trillion. Last year they were around 24 trillion and it keeps growing. Thats what the officially documented statistics show. your opinion is a common misconception that is based on false premises with no binding documentation, or physical statistics. a conspiracy at best.

Edited by truthful1
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Actually thats not true. the cbi is selling dollars for dinars and then putting them into the economy. thats why the m2 is growing ever month to over 30 trillion. Last year they were around 24 trillion and it keeps growing. Thats what the officially documented statistics show. your opinion is a common misconception that is based on false premises with no binding documentation, or physical statistics. a conspiracy at best.

True...I do not think I have paid enough attention to this. If you look at the machine's post about the auction earlier, it clearly says the CBI is selling (putting into the economy) 197 million (usd) worth of dinars. That is probably how they are increasing their foreign reserves account (with usd, yen, and pound by us speculators). That is why I think Maliki was upset about Shab's proposal to RD, because it will kill the purchases of IQD by speculators. He wants them to continue increasing the foreign reserves account through currency auctions, and use it for the budget deficit. Then Shabs says, "no, you can't use the foreign reserves account for the budget"

So now we wait for maliki and shabs to figure it out.

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Highercentral bank sales by about $ 17 million

Author: HM Editor: NQ Tuesday 27 September 2011 08:57 GMT

Alsumaria News / Baghdad

Sales from the Iraqi Central Bank, on Tuesday, a big increaseby about $ 17 million to reach more than $ 197 million, compared to the day onMonday, which registered a nearly $ 180 million.

The session saw, today, a big increase in sales of the bankto up to 197 000 590 thousand dollars had been covered by the bank at anexchange rate basis was 1170 dinars to the dollar, compared to day, on Monday,reaching sales of the bank 180 million and 183 thousand dollars.

And the distribution of demand by nine million and 750thousand dollars in cash, while divided the rest of $ 187 000 840 thousanddollars in the form of remittances external covered by the bank in full, theexchange rate was 1183 dinars per dollar, including transactions with the bankamounting to 13 dinars per dollar, with did not make the banks participate inthe auction and the 25 banks in any offers to sell the dollar.

And established the Iraqi Central Bank as a bank independentunder the law issued on the sixth of March of 2004, as an independent body andis responsible for maintaining price stability and the implementation ofmonetary policy, including exchange rate policies and management of foreignreserves and the issuance of currency management, as well as regulate thebanking sector to promote the system competitive financial and independent.

The Central Bank of Iraq are daily sessions for buying andselling foreign currencies with the exception of public holidays by the Bankdepends on those auctions.

http://www.alsumarianews.com/ar/3/28781/news-details-.html

Does this mean that CBI sells dollars for dinars??????? That would mean they are buying back dinars...that sounds good? :blink:

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Does this mean that CBI sells dollars for dinars??????? That would mean they are buying back dinars...that sounds good? :blink:

Yes, but those dinar are put into the economy, thats how the m2 is now over 30 trillion. they are using the auction for expanding not contracting the money supply. big misconception

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Yes, but those dinar are put into the economy, thats how the m2 is now over 30 trillion. they are using the auction for expanding not contracting the money supply. big misconception

Well....then that is bad for us. The more dinar in circulation....the lower the RV :(

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Actually thats not true. the cbi is selling dollars for dinars and then putting them into the economy. thats why the m2 is growing ever month to over 30 trillion. Last year they were around 24 trillion and it keeps growing. Thats what the officially documented statistics show. your opinion is a common misconception that is based on false premises with no binding documentation, or physical statistics. a conspiracy at best.

So according to you it would be better if the CBI was selling stacks of Dinar for US Dollars?

How do we know for sure what the CBI is using the Dinar for? For all we know they could be collecting it in their reserves to profit from a planned revalue. They obviously have plenty of US Dollar in their reserves that they can trade for Dinar before an RV.

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So according to you it would be better if the CBI was selling stacks of Dinar for US Dollars?

How do we know for sure what the CBI is using the Dinar for? For all we know they could be collecting it in their reserves to profit from a planned revalue. They obviously have plenty of US Dollar in their reserves that they can trade for Dinar before an RV.

The M2 doesn't list dinar being held by the CBI in their vaults, that has been pulled from circulation...If they ARE pulling Dinar from circulation AND the M2 is still going up(As it is) then we have a REAL problem!

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Actually thats not true. the cbi is selling dollars for dinars and then putting them into the economy. thats why the m2 is growing ever month to over 30 trillion. Last year they were around 24 trillion and it keeps growing. Thats what the officially documented statistics show. your opinion is a common misconception that is based on false premises with no binding documentation, or physical statistics. a conspiracy at best.

Exactly what I believe and according an article recently posted by the CBI if they do not reform their monetary policy soon that number will be 70 trillion in the next year.

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