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Currency Auctions


yota691
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Currency Auctions

Announcement No. (2044)

The latest daily currency auction was held in the Central Bank of Iraq on the 26-DEC-2011. The results were as follows:

DETAILS NOTES

Number of banks 22

Auction price selling dinar / US$ 1170

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

Amount sold at auction price (US$) 283,150,000

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

Total offers for buying (US$) 283,150,000

Total offers for selling (US$) ----- http://www.cbi.iq/index.php?pid=CurrencyAuctions

1 USD = 1165.5335 IQD

The USD IQD currency rate as of 26 Dec 2011 at 11:22 AM.

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Wish there was a way to know if this is just digital transfers, if physical currency is changing hands, or both, and what percentages if both.

If physical, then another 331,285,500,000 dinar was removed from circulation in country. (almost a third of a trillion)

That would be a good thing for us, meaning less exchange liability for the CBI, hopefully meaning they are working towards an RV. B)

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Central Bank of Iraq (CBI) sells US$283 millions in its Monday auction

12/26/2011 3:34 PM

BAGHDAD / Aswat al-Iraq: The Central Bank of Iraq (CBI) has sold US$283 millions in its Monday auction for sale and purchase of

foreign currencies, in a bid to continue the process of pumping foreign currency to restore the value of exchange to its average price

after its rise about two weeks ago.

"The total demand on the US dollar on Monday has reached 283 millions and 150,000 US dollars, covered by the CBI on an exchange rate

of 1,170 Iraqi dinars per dollar, whilst its sales during its previous session on Sunday had reached " the CBI's daily bulletin reported.

It pointed out the CBI's sales had registered its highest average exchange sales this year, that reached 293 millions and 990,000 US dollars in its

Sunday session.

The bulletin pointed out that the exchange rate during the past two weeks had reached to 1,235 dinars per dollar, to return today to 1,210 dinars

per dollar, after ranging between 1,190 and 1,200 dinars per dollar during the past few months.

The CBI's today's cash sales had reached 28 millions and 500,000 dollars, on an average exchange rate of 1,183 dinars per dollar, along with the

Bank's interest of 13 dinars per dollar, whilst the foreign transfers had reached 254 millions and 650,000 US dollars, also on an exchange rate of

1,183 dinars per dollar, including the Bank's interest of 13 dinars per dollar, whilst none of the 22 banks that attended today's session had offered

a single dollar for sale.

The CBI holds 5 sessions per week for sale and purchase of foreign currencies, beginning on Sunday and ending on Thursday, charging an interest

of 13 dinars per dollar for its cash sales and 13 dinars per dollar for its foreign transfers.

SKH (PT)

http://en.aswataliraq.info/(S(vtdbfi55g0cg2zmqhgu14mbz))/Default1.aspx?page=article_page&id=146205&l=1

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