Is 1260 The Target Figure?
Number of banks 14 -----
Auction price selling dinar / US $ 1295 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 60.605.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 60.605.000 -----
Total offers for selling (US $) ----- -----
Gooooooooooooood Morning RolClub
60 million, 103 million, 55 million, the amounts are just amazing on a daily basis. Not too long ago the CBI was pulling an average of 7 to 10 million per day. Since the return of the auctions after their year end break we have seen nearly 3/4's of a trillion dinars pulled from circulation and there seems to be no end to it. Someone posted a couple days ago that if the reval is more than 1:1 then all the dollars that are in the Iraqi economy would need to be exchanged for dinars, since the dinar would be worth more than a dollar. It finally made sense to me! The CBI doesn't need to have boatloads of foreign currency (ie: dollars) in their reserves to uphold their reval, they need dinars to exchange for dollars that are being circulated in their economy. Michael 16 said that was logical only if the dinar was an internationally traded currency. So if they reval at more than 1:1 and they put the dinar on the forex so that dinars are legal tender for goods and services coming into the country, (right now they can only pay for those items with dollars) then this all makes sense with what the CBI has been doing since they started this very overt plan to increase the value of the dinar. The guys at the CBI are really smart cookies. It gives me confidence that we'll all see a very nice return on our investment. When, I can no londer logically figure out, but time is on our side and it will happen. So with that here are todays numbers.
1. A 3 point change in the dinar today. Was 1298, now 1295
2. A (net) worth of dinars, IQD - 78,483,475,000 pulled out of circulation today, 1/23/07
3. 14 banks participating today
4. 67th auction since the beginning of CBI's reval plan
5. 115 days into the CBI's reval plan.
6. 3,795,212,130,000 dinars pulled from circulation !!
7. 0 Dinars back into circulation today !!
8. 182 dinar change since Oct 1st (baseline was 1477) 12.322% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).
9. 5 point reduction in the rate so far this week. Was at 1300 at the end of last week, 1295 this week.
10. 30 point drop so far in the month of Jan. Ended at 1325 in Dec, now stands at 1295