Still 1315

[CaddieMan]

Number of banks 14 -----
Auction price selling dinar / US $ 1315 -----
Auction price buying dinar / US $ 1313 -----
Amount sold at auction price (US $) 103.410.000 -----
Amount purchased at Auction price (US $) 75.000
Total offers for buying (US $) 103.410.000 -----
Total offers for selling (US $) 75.000 -----

[Oscar]

What a bummer, When are we going to start seeing the "SURGING" in dinar Value that the Politicians were all spouting off about last month?

:rolleyes:

[Copedawg]

Isn't 103 million an awful lot for 1 auction?

[WISHFUL]

something is different the numbers are different but the exchange rate is the same

[SmoothOperator]

WAIT ... LOOK at the VOLUME !!!!!

Not often that the volume traded is over 100,000,000 .. this looks like Accumulation to me :)

[CaddieMan]

They maybe testing the waters to see how the 1315 rate is effecting the economy. Who knows?

[Bear]

Its also still saying last auction was on thursday @1315

I think there is going to be a re print, i hope im wrong

[JUSTAGUY]

Its also still saying last auction was on thursday @1315

I think there is going to be a re print, i hope im wrong

It says the 14th.....Where are you getting Thursday? Also, how does this say reprint? 14 banks, most in a long time.

[CaddieMan]

WAIT ... LOOK at the VOLUME !!!!!

Not often that the volume traded is over 100,000,000 .. this looks like Accumulation to me :)

I think it is the 3rd highest ever? I think there was a 110,000,000 and a 109,000,000. But yes a hell of alot of volume!

[CodyDinar]

[quote="Bear";275755]Its also still saying last auction was on thursday @1315

Refresh the page
The 841daily currency auction was held in the Central Bank of Iraq day Sunday 2007/ 1/14so the results were as follows :

[CaddieMan]

Its also still saying last auction was on thursday @1315

I think there is going to be a re print, i hope im wrong


Clearly says Sunday on my computer!

[MidwestBoy]

Isn't 103 million an awful lot for 1 auction?

Hell yeah it is! How much dinar is that????:drunk:

[High On Dinars]

It says 14 banks traded.. What was the normal or average in the past I don't remember?

The way I see it is if more banks are trading then that means they are all stocking up on dinars for some (special) reason...

Am I wrong in thinking this?

[Bear]

Thanks, pressed refresh and now says Sunday, still 1315 though,

with all thats going on i would have thought it would have moved a little again, Im worried now, things seem to be at Crunch point,

what would a re print do to our cash, and would it be better off in an Iraqi account, "Warka"

"WILSON" from the film Cast Away.........

[MidwestBoy]

what would a re print do to our cash, and would it be better off in an Iraqi account, "Warka"

bear there is NOT going to be a reprint.... period. I wish you would stop using that nasty word when there is NO INDICATION of it.... thank you. ;)

[smokeyb111]

I've been watching this investment of mine for a little under 3 years, but I guess I need to understand something fairly simple.....


Amount sold and total offers were 103.410.000

Is that how much Dinar they (CBI) spit out, or is that how much the CBI took in.

I mean if they SOLD 103 million worth of dinar, they sold it to the banks...i.e. in circulation.

Isn't this BAD if I'm right?


Someone help me understand this please.

[tlagiloi]

Its also still saying last auction was on thursday @1315

I think there is going to be a re print, i hope im wrong

Announcement No.(841)

D.G. of Foreign Exchange Control

The 841 daily currency auction was held in the Central Bank of Iraq day Sunday 2007/ 1/14

103 million with NO real change, 1313 ain't a change really,
is pretty wierd.

Looks like it's time to chill for a while and just check in the a.m.
once a day.
the excitement has worn off

[BlueDinar]

Are they selling Dinar and taking in dollars? It use to be the other way selling dollars taking in dinar.....why the rush to switch to dinar when the rate is stabilizing?

[tlagiloi]

I've been watching this investment of mine for a little under 3 years, but I guess I need to understand something fairly simple.....


Amount sold and total offers were 103.410.000

Is that how much Dinar they (CBI) spit out, or is that how much the CBI took in.

I mean if they SOLD 103 million worth of dinar, they sold it to the banks...i.e. in circulation.

Isn't this BAD if I'm right?

Someone help me understand this please.

my guess is investors like us bought 103 million.
so now they can remove that many from circulation.
a good thing, imo.

[BugmanIraq]

Hillary Roadhard Clinton was in town bad mouthing GW and Maliki. Maybe she picked up some dinar to keep Bill in hookers and cigars.

[smokeyb111]

Huh?
If anyone, group, or bank, etc....bought 103 million US worth of Dinar, isn't that Dinar now IN circulation? Anything outside of the CBI's vaults is "in circulation" right?

[UNCLE DINARDO]

Huh?
If anyone, group, or bank, etc....bought 103 million US worth of Dinar, isn't that Dinar now IN circulation? Anything outside of the CBI's vaults is "in circulation" right?


They took sold 103,410,000 USD and in return they received 135,984,150,000 Dinar.

[Garf]

103 million... wow you mean my wire made it through ?!?

Hehehe :)

[im1vestr]

Huh?
If anyone, group, or bank, etc....bought 103 million US worth of Dinar, isn't that Dinar now IN circulation? Anything outside of the CBI's vaults is "in circulation" right?


FYI IT is a foreign exchange that sells and buys US dollars. They buy and sell in US dollars.
THE AUCTION TODAY WAS A GOOD THING. IT TOOK MORE NID OUT OF CIRCULATION. Go to gbarton13 thread debunking the NID buying myth at CBI
Im1vestr

[Crosslakeboy]

Jan 1 2008 is only 350 days away. I think we all know we will have our answer by then.

[Dennis-investment]

One day at a time. I think it will move again. I'm in for the long hall....

[megasteelers]

According to the article I posted last night Al-Sunaid said the Dinar will be 1200 by mid 2007 so its only going to go another 115 in the next 5 months.

[Crow]

When I got into this I knew it would be a long hard road,ups and downs,I'm not worried at all this just what I expected,a little slow,but what can you do.I'm just glad they are going to try to clean up Baghdad,that is key.Don't waste this delay make investment adjustments,open accounts,ISX etc,if you are going to do it,do it now.Just a thought CROW.

[Lady D]

FYI IT is a foreign exchange that sells and buys US dollars. They buy and sell in US dollars.
THE AUCTION TODAY WAS A GOOD THING. IT TOOK MORE NID OUT OF CIRCULATION. Go to gbarton13 thread debunking the NID buying myth at CBI
Im1vestr
This is the largest auction I've seen since the rate started improving. I hope the large auction is in response to need to complete import purchases, or worse case scenario just a knee jerk reaction to Bush's speech last week.

I hope it doesn't mean they know something, that we don't. Okay I'm going to go search for some optimism :-)
Lady D

[aghaf9999]

The main reason that the IQD has increased in value against the dollar is because of interest rates increasing in Iraq relative to the US. The Iraqi leaders require a stronger currency as they want the IQD to be the currency of choice in Iraq. This is just an attempt to dampen the effects of inflation as economic growth, contrary to popular belief, is strong. This remains an excellent long term investment.

[BusterBrown]

The CBI took 103,410,000 dollars worth of dinar out of circulation today at the auction. This is the way I understand it, the CBI will give someone sellling dinar to them a rate of 1315 dinar for one US dollar. But if they want to exchange US dollars for dinars,or buy dinar, the CBI will give 1313 dinar for one US dollar. They make two dinar per dollar when selling dinar versus buying dinar. Taking alot of dinar out of circulation to set supply and demand. Remember the dinar wil be the only currency used in Iraq this year, so the CBI has to create a supply and demand situation that will allow the dinar to rise in value by getting more dinar out of circulation to make it worth more. How else will they demand everyone use dinar if it is worth less than the US dollar. This is all good in my opinion. ;)

[Here in Kuwait]

The CBI took 103,410,000 dollars worth of dinar out of circulation today at the auction. This is the way I understand it, the CBI will give someone sellling dinar to them a rate of 1315 dinar for one US dollar. But if they want to exchange US dollars for dinars,or buy dinar, the CBI will give 1313 dinar for one US dollar. They make two dinar per dollar when selling dinar versus buying dinar. Taking alot of dinar out of circulation to set supply and demand. Remember the dinar wil be the only currency used in Iraq this year, so the CBI has to create a supply and demand situation that will allow the dinar to rise in value by getting more dinar out of circulation to make it worth more. How else will they demand everyone use dinar if it is worth less than the US dollar. This is all good in my opinion. ;)

Good point and totally agree.;)

[The Sage]

Where have all of the rational thinkers on this web site gone!

First of all, for the millionth time, the CBI auctions are referring to dollars when they are referring to amount sold or purchased. So...

Amount sold at auction price (US $) 103.410.000
Amount purchased at Auction price (US $) 75.000

Should be read like

Amount (of dollars) sold at auction price is (US $) 103.410.000
Amount (of dollars) purchased at Auction price is (US $) 75.000

Secondly, it is irrational to coorelate the fact that the auction price stayed the same for two days in a row to a reprint...ridiculas. I am amazed at the number of posters now who need to be babysitted everyday there is not a large reval.

Lastly, has ANYONE, considered the fact that maybe, just maybe, the CBI is planning on keeping the rate the same or possibly even reversing the trend a few PIPs and depreciating the dinar for a short period of time to get speculators to cash in now? From the auction today, this is precisely what happened...a large amount of dinar was pulled out of the economy by the CBI.

I personnally believe that it is totally possible that the CBI's current behavior is a ploy to get speculators to panic and cashout now. Depreciate the dinar 20 - 30 PIPs and watch the dinar flow out of spectators hands. When I see the exchange rate stop moving or going the opposite direction for a period of time I know good times are ahead.

Look at the big picture and stop basing your investment decisions on one or two day price changes, or lack thereof.

[BusterBrown]

Good point and totally agree.;)

Here in kuwait, what do the banks that receive the US dollars from
from the CBI do with those US dollar? Do they hold them, use them for exchange purposes for the locals, or what. This is the one thing I don't understand. Where do those US dollars go after they get to these other banks outside the CBI.:confused:

[SEABEE CAN-DO]

It is only worth what it is worth. That is not based on what You want it to be . last time I looked the Dump is still not secure and the country can only sell so much oil. . There could be too much dinar in the hands of investors for a good push up in value. No one really knows how much is in the hands of investors. the only way investors can help that is to put it into a bank in Iraq.