Monday, June 23 2008, CBI Rate 1196

Announcement No.(1193)


D.G. of Foreign Exchange Control

The 1193 daily currency auction was held in the Central Bank of Iraq day Monday 2008/6/23 so the results were as follows :



Number of banks 16 -----

Auction price selling dinar / US $ 1196 -----

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

Amount sold at auction price (US $) 86.175.000 -----

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

Total offers for buying (US $) 86.175.000 -----

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

Sure would like to see it start to move again!! I think when more reconstruction of the infrastructure is completed and their industrial sector is back online for the most part, We will see faster gains in the pip sector!!

yuppers, something has to happen. This can't drag out like this, can it? There largest note is = to about 20 bucks and thats not much for a "cash based" country. This has been a frustrating ride so far.

All the other things need to fall into place also as they are starting to now,, HCL, IMF, Sovereignty, etc..etc..

1 USD = 3 old Dinars pre 1993
1 USD = 1196 NID post 1993
Iraqis traded 1 old Dinar for 1 NID and more for Swiss Dinar in the north.
Current exchange rate 1196 NID = 1 USD
How can they recoup their losses without an RV ???