Exchange Rate July 9th 2008
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tomrossi1
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Exchange Rate July 9th 2008
Announcement No.(1205)
D.G. of Foreign Exchange Control
D.G. of Foreign Exchange Control
The 1205 daily currency auction was held in the Central Bank of Iraq day Wednesday 2008/7/9 so the results were as follows :
Details | Notes | |
Number of banks | 16 | ----- |
Auction price selling dinar / US $ | 1194 | ----- |
Auction price buying dinar / US $ | ------ | ----- |
Amount sold at auction price (US $) | 161.375.000 | ----- |
Amount purchased at Auction price (US $) | ------ | |
Total offers for buying (US $) | 161.375.000 | ----- |
Total offers for selling (US $) | ------ | ----- |
Big Auction Numbers again ?
Re: Exchange Rate July 9th 2008
A friend of mine is so bored with this investment that he now buys a 25k note every time there is a pip drop to keep him interested.
Adster- Forum Leader
- Posts : 162
Join date : 2008-07-03
Age : 56
Re: Exchange Rate July 9th 2008
Adster,
I guess your friend will have several million more dollars when this gets to 1 to 1 because 1194 x 25,000 = $29,850.000.
I guess your friend will have several million more dollars when this gets to 1 to 1 because 1194 x 25,000 = $29,850.000.
tomrossi1- Posts : 18
Join date : 2008-07-03
Re: Exchange Rate July 9th 2008
What he's hoping for, like the rest of us!!
Adster- Forum Leader
- Posts : 162
Join date : 2008-07-03
Age : 56
Re: Exchange Rate July 9th 2008
You can say that again. This is just insane with all of that $ and resources in Iraq!
tomrossi1- Posts : 18
Join date : 2008-07-03
Re: Exchange Rate July 9th 2008
FWIW, today's results were the 7th highest amount of dollars ever sold.
Sponson- Forum Leader
- Posts : 90
Join date : 2008-06-23
Re: Exchange Rate July 9th 2008
TIC TOC TIC TOC RV YAHOOOOO 1 PIP
BIGDADDY009- Posts : 25
Join date : 2008-07-09
Age : 47
Location : H.O.V.R HAWAII
Re: Exchange Rate July 9th 2008
boring..................
soeharto- Posts : 39
Join date : 2008-06-22
Age : 43
Location : Indonesia
Re: Exchange Rate July 9th 2008
Sponson you been good in past questions i've brought up, Just wondering the signifgance of the high number youve mentioned?
bigpoppapump- Posts : 26
Join date : 2008-06-27
Re: Exchange Rate July 9th 2008
bigpoppapump wrote:Sponson you been good in past questions i've brought up, Just wondering the signifgance of the high number youve mentioned?
Yaseri's explanation of today's auction results haven't been posted yet, but given past history, I think all we can say is that the high numbers were to pay for "foreign transfers". I believe it's an indication of increased economic activity to pay for USD denominated imports.
Some have said that maybe the auctions indicate that the GoI has been paying off debt, but since they collect oil revenues in USDs then I see no reason for them to go to the CBI auctions.
Bamba used to post a detailed explanation of the auction results but I don't recall where she got them from, and last I heard they'd stop posting these detailed reports anyway.
Hope this helps. Perhaps other could chime in...
Thanks.
Sponson- Forum Leader
- Posts : 90
Join date : 2008-06-23
Similar topics
» Exchange Rate - July 6 - 1195
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