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paganiniraq
10-11-2006, 04:40 AM
The 787 daily currency auction was held in the Central Bank of Iraq day Wednesday 2006 / 10/ 11 so the results were as follows :
Details Notes

Number of banks15-----
Auction price selling dinar / US $1471-----
Auction price buying dinar / US $----------
Amount sold at auction price (US $)53.505.000-----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $)53.505.000-----
Total offers for selling (US $)----------
US Dollar
USD
1471.000
1470.265

European Euro
EUR
1844.781
1843.859

Sterling Pound
GBP
2728.411
2727.047

Canadian Dollar
CAD
1299.700
1299.050

Swiss Frank
CHF
1159.089
1158.510

Swedish Krone
SEK
198.945
198.846

Norwegian Krone
NOK
219.979
219.869

Denmark Krone
DKK
247.451
247.328

Japanese Yen
JPY
12.291
12.285
Tenndinar
10-12-2006, 07:36 AM
Something is going on people ......

1470?

Exchange Rates (http://www.cbiraq.org/cbs6.htm)


:lmao: :lmao: :lmao:
StephanieF
10-12-2006, 07:41 AM
Something is going on people ......

1470?

Exchange Rates (http://www.cbiraq.org/cbs6.htm)


:lmao: :lmao: :lmao:

Yes the dollar is strengthing.


Representative Exchange Rates for Selected Currencies for October 2006 (http://www.imf.org/external/np/fin/rates/rms_mth.cfm?SelectDate=10%2F01%2F2006&reportType=REP&arch=1)
Skillet
10-12-2006, 07:52 AM
The forex shows a rate of 1408 to the euro.
reconaz
10-12-2006, 07:53 AM
Yes the dollar is strengthing.


Representative Exchange Rates for Selected Currencies for October 2006 (http://www.imf.org/external/np/fin/rates/rms_mth.cfm?SelectDate=10%2F01%2F2006&reportType=REP&arch=1)

Sorry im a little slow today. Why would the Iraqi Dinar raise in value to 1470 if the dollar is getting stronger? I would think the dinar would decrease in value (1470+). Do I have this wrong :confused:
StephanieF
10-12-2006, 08:13 AM
Sorry im a little slow today. Why would the Iraqi Dinar raise in value to 1470 if the dollar is getting stronger? I would think the dinar would decrease in value (1470+). Do I have this wrong :confused:

As the dollar gets stronger so does the dinar, It is pegged to the dollar.

When the value of the dinar goes up you get less 1470- This effect happens when the dollar value increases as you can see in the percentage gained against the euro in the past few days and the exact percent in movement of the dinars value.
reconaz
10-12-2006, 08:49 AM
As the dollar gets stronger so does the dinar, It is pegged to the dollar.

When the value of the dinar goes up you get less 1470- This effect happens when the dollar value increases as you can see in the percentage gained against the euro in the past few days and the exact percent in movement of the dinars value.

Ahhhh I see. Thanks for clearing that up for me. :wave:
rags2riches99
10-12-2006, 09:28 AM
Hey Guys,
I do not belive the Dinar is pegged to the USD. It is maintained at a certain relationship to the USD by the actions of the CBI. If it were pegged, it would remain always the same. The Bahraini Dinar IS pegged to the USD and it is always 1 BHD = 2.65 USD. What we are seeing here is possibly a modest strenghthening of the IQD AGAINST the USD. (A trend I heartily approve!)
StephanieF
10-12-2006, 09:45 AM
Hey Guys,
I do not belive the Dinar is pegged to the USD. It is maintained at a certain relationship to the USD by the actions of the CBI. If it were pegged, it would remain always the same. The Bahraini Dinar IS pegged to the USD and it is always 1 BHD = 2.65 USD. What we are seeing here is possibly a modest strenghthening of the IQD AGAINST the USD. (A trend I heartily approve!)

This will help you understand why it doesn't move.

Bahrain Monetary Agency (http://www.bma.gov.bh/cmsrule/index.jsp?action=article&ID=947)
rags2riches99
10-12-2006, 10:18 AM
Hey Steph,
I couldn't get the link to open.
StephanieF
10-12-2006, 10:48 AM
Hey Steph,
I couldn't get the link to open.

Works for me.


Bahrain Monetary Agency (http://www.bma.gov.bh/cmsrule/index.jsp?action=article&ID=947)
Pimpmaximus
10-12-2006, 10:59 AM
As the dollar gets stronger so does the dinar, It is pegged to the dollar.

When the value of the dinar goes up you get less 1470- This effect happens when the dollar value increases as you can see in the percentage gained against the euro in the past few days and the exact percent in movement of the dinars value.

I'm confused as well. I'd expect to see a rise with respect to other curencies, not the dollar itself.........

If its pegged to the dollar, the exchange rate would remain the same or close to baseline no?

Link doesn't work for me either................
ISX_TIME
10-12-2006, 01:55 PM
That one point from 1471 to 1470 raised my stock value another $57.50, Who says it's not a GREAT day :happy64:

I just noticed that was my 1,470 post.....Thats an Omen !
inquisitive
10-12-2006, 09:11 PM
That one point from 1471 to 1470 raised my stock value another $57.50, Who says it's not a GREAT day :happy64:

I just noticed that was my 1,470 post.....Thats an Omen !

Very Cool Dinar_Time. You deserve it!!!!:wave:
paganiniraq
10-12-2006, 09:15 PM
Very Cool Dinar_Time. You deserve it!!!!:wave:
Inquisitive...care to offer an opinion at this link?
http://www.investorsiraq.com/iraqi-dinar/24031-economic-expert-high-rate-dinar-deliberate.html
inquisitive
10-12-2006, 09:56 PM
Inquisitive...care to offer an opinion at this link?
http://www.investorsiraq.com/iraqi-dinar/24031-economic-expert-high-rate-dinar-deliberate.html
Sure Pagan, I will offer an opinion. I just tried to on your other link and lost it because somehow my log in timed out before I sent it. I will try again in shorter doses.