Daily Auction
The Central Bank of Iraq had posted some great numbers from their daily auctions last week with the highest exchange rate for the US Currency 1468 IQD instead of 1470 IQD. Some of the contributing factors for the high demand for last weeks auctions for the US Dollar was the suspending of the auction for five days because of the curfew imposed, the weekend vacation, the sentencing of Saddam, and the ever increasing deteriorating of security.
The private Iraqi banks are selling their Iraqi Dinar as fast as they can get it. So much for an RV it is not in the cards this year.
Comments
what do you make of this crazy "re-val" talk???
Iraq-Currency :: Aswat al Iraq :: Aswat al Iraq
Iraq-Currency
Dollar demand up in Iraqi Cenbank daily auction
Baghdad, Nov 27,
(VOI) – Buying demand for U.S. dollars was higher in the Iraqi central bank daily auction on Monday, while the dollar rate continued its down trend dinars as the central bank moved on with the revaluation of the local currency.The Cenbank said in its daily statement the dollar demand reached $20.580 million compared to $5.330 million on Thursday.
The central bank covered all bids received from local banks which were $3.280 million in cash and $17.300 million in foreign transfers.
The exchange rate was at 1,439 dinars per dollar, two dinars down from Thursday’s session.
Last Thursday, Iraqi demand on dollars hit a new low for 2006 and the dollar rate was down three dinars amid expectations of lower demand for the U.S. currency.
Posted by: cc | November 27, 2006 3:56 PM
What exactly is your question and or what are you referring to exactly?
Posted by: American Contractor | November 27, 2006 11:03 PM
I just wanted to bring to your attention that the RV is underway and we should expect a weaker USD and stronger ID by this time next year.
Posted by: cc | November 28, 2006 11:42 AM