1435

[CaddieMan]

We are now at 1435 and for the first time ever more purchased than sold! What do you think?

Announcement No.(815)

D.G. of Foreign Exchange Control

The 815 daily currency auction was held in the Central Bank of Iraq day Wednesday 2006 / 11/ 29so the results were as follows :

Details Notes
Number of banks 4 -----
Auction price selling dinar / US $ 1435 -----
Auction price buying dinar / US $ 1433 -----
Amount sold at auction price (US $) 1.330.000 -----
Amount purchased at Auction price (US $) 2.000.000
Total offers for buying (US $) 1.330.000 -----
Total offers for selling (US $) 2.000.000 -----

Cash amounts sold to the bank and its customers were USD(1.330.000) at a rate of(1435+1+10=1446)IQD\USD .

[pearse1916]

slow but in the right direction, they will have to do more than this if its tre they want to be at 1000-1 by the years end

[kingdomfunding]

....and only 4 banks trading!

Perhaps the banks not playing know something
we don't know?

:huge::happy64::huge:

[baz]

....and only 4 banks trading!

Perhaps the banks not playing know something
we don't know?

:huge::happy64::huge:
Everybody knows something we dont......thats the whole problem.

[Bishopea]

And wat do they know I want to find out Please!!!! 1435 is great wow this is a great decline keep going i'm in it for the long run so no complaints here. WHOOOOHOOOOOOO!!!!!

[buck74]

What I know is 2 dinars a day is going to do very little about a 60% inflation rate topped off by a falling dollar. Lets kick this horse in the rear end, and get going! :D

[Teslyn]

Everybody knows something we dont......thats the whole problem.


That should be the official slogon of the forums.

I like it.

Now, if only more of the posters here believed it of themselves. :drunk:

[Joel57]

What I know is 2 dinars a day is going to do very little about a 60% inflation rate topped off by a falling dollar. Lets kick this horse in the rear end, and get going! :D

Ummmmm, 76%.........

Shabibi said during a meeting at the headquarters of the World, It was attended by the Directors-General and officials of private banks, He dedicated for circulation in the monetary policy and the means of cooperation between the Central Bank and All banks, «The aim of the Central Bank is currently limited in the fight against inflation, which reached about 76% and reduce the height, through the provision of better conditions for economic development and improving the performance of the banking sector and providing stability ».

[buck74]

Yes 76%. The point being that the inflation rate combined with the eroding dollar is close to 100% when compared to other currencies. Two dinars a day is not going to do anything. It would take a year and a half just to catch up to the current need. In the mean time inflation is going to continue, and the dollar will also continue to slide. As it has been said I also believe they aree just testing the waters here. But more will need to be done soon. Hope springs eternal.