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***CBI Currency Auction*** 25 Dec 2011, US 293,990,000


billiebobt
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Currency Auctions

Announcement No. (2043)

The latest daily currency auction was held in the Central Bank of Iraq on the 25-DEC-2011. The results were as follows:

DETAILS NOTES

Number of banks 26

Auction price selling dinar / US$ 1170

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

Amount sold at auction price (US$) 293,990,000

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

Total offers for buying (US$) 293,990,000

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

CBI Auction

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Currency Auctions

Announcement No. (2043)

The latest daily currency auction was held in the Central Bank of Iraq on the 25-DEC-2011. The results were as follows:

Details Notes

Number of banks 26

Auction price selling dinar / US$ 1170

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

Amount sold at auction price (US$) 293,990,000

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

Total offers for buying (US$) 293,990,000

Total offers for selling (US$)

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Their auctions appear to be staying high. I think that is a good thing.

We've been told to think that. I don't know my arse from a hole in the ground at this point. Just keeping the faith that my fellow DV members have an intelligent take on what comes out of Iraq, and keeping the positivity. Merry Xmas all. Chao.

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Bigcity they are selling US dollars and buying Dinar. Everyday they have a auction the amount of Dinar in circulation gets smaller.

Not true. The amount of dinar in circulation has been growing every year, including this one. It's up several trillion at least over the 2010 numbers.

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They are SELLING dinar for USD. This is not good for a RV scenero if they keep up these large auctions flooding the market with dinar that would mean they know that the dinar is going down, and want USD now for their currency. However if they pull in dinar(not this auction) then the value of the dinar will go up RV or not(as long as they have a free float and not this dirty float). Just stop looking at everything as a sign of a impending RV the gurus know less than people in this investment who put a little time into studying just stop being sheep start to find things out on your own.

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They are SELLING dinar for USD. This is not good for a RV scenero if they keep up these large auctions flooding the market with dinar that would mean they know that the dinar is going down, and want USD now for their currency. However if they pull in dinar(not this auction) then the value of the dinar will go up RV or not(as long as they have a free float and not this dirty float). Just stop looking at everything as a sign of a impending RV the gurus know less than people in this investment who put a little time into studying just stop being sheep start to find things out on your own.

You are so backward...The banks are infact buying back dinar for dollars. Which would be good for us...I believe the people of Iraqi do not trust the dinar at this time,so are asking for more dollars. They will be very disappointed when the dinar rises in value and it will cost them more to buy their dinar back.

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Bigcity they are selling US dollars and buying Dinar. Everyday they have a auction the amount of Dinar in circulation gets smaller.

I'm just gonna add that IMO, I believe that the CBI has a pretty good idea of how much dinar is in physical circulation. I'm sure not all of the printed notes made it to the streets, and I even read (no link), that since the troops withdrew that there is a scarcity of physical dinar in Iraq. I'm pretty sure that dinar dealers must return any unsold dinar to the CBI post RV, and those of us holding the currency will reap the rewards of our investment. So keep buying up them dinars, Shabbs. Daddy needs them new shoes, and a strong RV will afford me to get a fresh new pair of Vans. Converse (chucks), maybe a new shirt, and a Bugatti.... NOT! Lambo? Sure. '57 Bel Air convertible? Yepper! But now i'm torn between a '60 caddy droptop or a '60's Lincoln w/ the telltale suicide doors. Decisions, decisions. Thanks for letting me dream. I ended up w/ a lump of coal for xmas. <_< BUT. It's getting better day by day. I'll be buying the lumps of coal next year!!!

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Sorry Snatcher and a few other people they are "selling dinar" just look at the auction post there isn't a price for buying dinar. So they are selling not pulling in dinar again you guys need to start looking for yourselves most of the people who replied about this auction were wrong in thinking that selling dinar is good for our RV. Lol.

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Sorry Snatcher and a few other people they are "selling dinar" just look at the auction post there isn't a price for buying dinar. So they are selling not pulling in dinar again you guys need to start looking for yourselves most of the people who replied about this auction were wrong in thinking that selling dinar is good for our RV. Lol.

25-12-2011 | (Voice of Iraq) - BAGHDAD

Sales from Central Bank of Iraq in the opening of its weekly, Sunday, a rise of up to $ 293 million in the auction for the sale and purchase of foreign currencies, the highest rate of sale since the beginning of this year, which is a continuation of the process of pumping currency in order to bring the exchange rate to the rates, after rising the past two weeks.

The bulletin issued by the Central Bank and the Agency has received (Voices of Iraq) a copy of which the total volume of demand on the dollar stood at 293 million and 990 thousand dollars, covered by the central bank at an exchange rate basis was 1170 dinars to the dollar. "

And sales exceeded the Central Bank during the last week of $ 240 million on average per day, after the rise in exchange rates of U.S. dollar, a high figure for the average Iraqi market needs of the dollar, which range between 150-180 million dollars.

The exchange rate increased during the past two weeks to up to 1235 dinars per dollar today, returning to 1210 dinars per dollar, after it was between 1190 and 1200 dinars per dollar during the past few months.

Specialists, which attributed to the influence of citizen concern about the U.S. withdrawal, which resulted in savings in foreign currency in case of any emergency security, while the Iraqi Central Bank commented on the high exchange rate, saying that "price bubble" resulting from an internal cause of concern is the citizen of the retreat of the security situation because of the security situation and the political transformation of the Iraqi trader and broker to re-export of goods due to regional conditions and thereby increasing demand and high price of the dollar.

But at the same time the Central said that the exchange rate will not be back soon, because of the ability of the Central Bank to pump large amounts of foreign exchange to the domestic market thanks to the large cash reserve it has enjoyed, which was confirmed in a statement received by the agency (Voices of Iraq) a copy of it.

And distributed auction sales on the "cash sales of $ 26 million and 880 thousand dollars at the exchange rate was 1183 dinars per dollar," inclusive "commission the Central Bank amounting to 13 dinars per dollar," while sales orders, "$ 267 million and 110 thousand dollars at the exchange rate was 1183 dinars per dollar, "inclusive," the central bank's commission of 13 dinars per dollar, "the bulletin stated that" did not make any of the 26 banks participating in the auction with offers to sell the dollar.

The Iraqi central bank held five sessions weekly auction 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.

http://www.sotaliraq.com/mobile.php

SELLING U S D a copy of which the total volume of demand on the dollar stood at 293 million and 990 thousand dollars, covered by the central bank at an exchange rate basis was 1170 dinars to the dollar. "

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