Exchange Rate - July 10 - 1194

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Exchange Rate - July 10 - 1194

Post by Sponson on Thu Jul 10, 2008 1:43 am



The 1206 daily currency auction was held in the Central Bank of Iraq day Thursday 2008/7/10 so the results were as follows :
Details Notes
Number of banks19-----
Auction price selling dinar / US $1194-----
Auction price buying dinar / US $-----------
Amount sold at auction price (US $)157.245.000-----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $)157.245.000-----
Total offers for selling (US $)-----------

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Re: Exchange Rate - July 10 - 1194

Post by Sponson on Thu Jul 10, 2008 2:14 am

I'm afraid that I overlooked a couple of numbers yesterday. Here's a list of the Top 13 auction results in terms of dollars sold. As it happens, all dates are 2008.

1. 260,410,000 April 14
2. 206,875,000 June 17
3. 199,375,000 January 10
4. 181,280,000 January 3
5. 174,420,000 April 7
6. 165,140,000 June 24
7. 164,635,000 May 8
8. 162,515,000 February 4
9. 161,380,000 January 14
10. 161,375,000 July 9 (Yesterday)
11. 159,170,000 April 1
12. 157,795,000 May 13
13. 157,245,000 July 10 (Today)

So we've had two Top 13s in the past two days.

Interesting.


Last edited by Sponson on Thu Jul 10, 2008 2:26 am; edited 1 time in total

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Re: Exchange Rate - July 10 - 1194

Post by Semper Fidelis on Thu Jul 10, 2008 2:18 am

It is interesting...

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Re: Exchange Rate - July 10 - 1194

Post by Dinar Cha Ching on Thu Jul 10, 2008 4:06 am

Big numbers for sure!

November 13th 2006 when the rate first started dropping the CBI had an auction for 110,000,000. Was that ever big news on the forums! That number pales in comparison to the current auction numbers and it's ho-hum because the rate isn't moving.

I wish Shabibi would get the rate moving like he did in Nov/Dec of '06 though, that would be more meaningful to me.

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Re: Exchange Rate - July 10 - 1194

Post by 19mach74 on Thu Jul 10, 2008 9:08 am

"So we've had two Top 13s in the past two days."

and only one pip this week? why?

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Re: Exchange Rate - July 10 - 1194

Post by Sponson on Thu Jul 10, 2008 9:36 am

19mach74 wrote:"So we've had two Top 13s in the past two days."

and only one pip this week? why?

The current pip moves are to help control inflation. Evidently they think they have it under control.

Also note that we recently learned that the CBI has been purchasing dinar out on the open market, and so they may be combating inflation more by reducing M2 than dropping pips.

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Remember Shabibi's comment about 'supply and demand?'

Post by Stout Hearted Man on Thu Jul 10, 2008 6:12 pm

Sponson wrote:

The current pip moves are to help control inflation. Evidently they think they have it under control.

Also note that we recently learned that the CBI has been purchasing dinar out on the open market, and so they may be combating inflation more by reducing M2 than dropping pips.


Buying dinar in the auctions AND outside of it?
I don't believe thats only about inflation.

What a Face $$$$$$$$$$$$$$$$$$$$$$$$$$ I love you

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Re: Exchange Rate - July 10 - 1194

Post by GSG on Thu Jul 10, 2008 10:59 pm

Sponson wrote:I'm afraid that I overlooked a couple of numbers yesterday. Here's a list of the Top 13 auction results in terms of dollars sold. As it happens, all dates are 2008.

1. 260,410,000 April 14
2. 206,875,000 June 17
3. 199,375,000 January 10
4. 181,280,000 January 3
5. 174,420,000 April 7
6. 165,140,000 June 24
7. 164,635,000 May 8
8. 162,515,000 February 4
9. 161,380,000 January 14
10. 161,375,000 July 9 (Yesterday)
11. 159,170,000 April 1
12. 157,795,000 May 13
13. 157,245,000 July 10 (Today)

So we've had two Top 13s in the past two days.

Interesting.

They said 1-1.8 trillion each month. How many months are we talking here?


Thanks,
GSG

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Re: Exchange Rate - July 10 - 1194

Post by Sponson on Fri Jul 11, 2008 4:20 am

GSG wrote:They said 1-1.8 trillion each month. How many months are we talking here?

Thanks,
GSG

Ain't no tellin'.

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Re: Exchange Rate - July 10 - 1194

Post by Sponson on Sun Jul 13, 2008 4:44 am

I know it's from last Thursday's results, but I just noticed and thought it interesting. Typically there's a lot more dollars used for foreign transfers than for internal consumption. Thursday was different. Interesting, but I don't necessarily know what to make of it.


Lower demand for the dollar on Thursday
Baghdad - Voices of IraqSunday , 13 /07 /2008 Time 1:50:32 [/size]
BAGHDAD, July 10 (VOI) - Demand for the dollar was down in the Iraqi Central Bank's auction on Thursday, reaching $157.245 million compared to $161.375 million on Wednesday.

"The demand hit $61.955 million in cash and $95.290 million in foreign transfers outside the country, all covered by the bank at an exchange rate of 1,194 Iraqi dinars per dollar," according to the central bank's daily bulletin, which was received by Aswat al-Iraq - Voices of Iraq - (VOI).
None of the 19 banks that participated in the auction offered to sell dollars.

http://www.aswataliraq.info/look/english/article.tpl?IdLanguage=1&IdPublication=4&NrArticle=85302&NrIssue=2&NrSection=2

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Re: Exchange Rate - July 10 - 1194

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