Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by 2shoes

No More Auctions?


The CBI Currency auctions were designed to control the deFacto value of the IQD within a tight range per agreement with the IMF. Since this phase (3 Years) is over, maybe it is time to move into the next phase. Maybe a return to the deJure Currency Regime is imminent? Return to the $3.22 deJure value is the next phase of valuation? Is this the reason the CBI Auction site is gone?

Very interesting.

sounds good to me

WTF!!!

I went on the Yahoo currency xchange site, to check it out. And about 10 minutes ago it was at 1470.1 so I thought, no big deal. I refreshed the page a few times and it did not change. I just went back to check again after about five minutes and it is at 1470.5 ! Why would the rate be changing if it is not trading??????????????????????????????????????

Originally Posted by MC Dig

WTF!!!

I went on the Yahoo currency xchange site, to check it out. And about 10 minutes ago it was at 1470.1 so I thought, no big deal. I refreshed the page a few times and it did not change. I just went back to check again after about five minutes and it is at 1470.5 ! Why would the rate be changing if it is not trading??????????????????????????????????????

I almost positive this is reflecting changes in the USD not the IQD.

Probably not a big deal,it is still at 1470.5, but it should not be changing at all.

Originally Posted by MC Dig

WTF!!!

I went on the Yahoo currency xchange site, to check it out. And about 10 minutes ago it was at 1470.1 so I thought, no big deal. I refreshed the page a few times and it did not change. I just went back to check again after about five minutes and it is at 1470.5 ! Why would the rate be changing if it is not trading??????????????????????????????????????

the dinar is pegged to another currency, so as the other currency moves so too does the dinar

Originally Posted by duck2000

chart showing rate going up and down check out site

I think what you are seeing is an active currency EUR moving against the last know rate of the dinar, thats why when you look up EUR/IQD you see movement, but when you look up IQD/EUR you see flat blocky lines. Maybe I am wrong, but thats my take.

Mike

In your opinion are we on the edge of the dinargasm or do we need more patience?

Maybe I missed this but, did anyone find out what the big announcement from the Republicans on the 17th was? Did it even happen?

Originally Posted by Socata 850

A decline in demand for dollar purchase during the Central Bank auction
A decline in demand for dollar purchase during the Central Bank auction
19/10/2006
Source: Aswat Al Iraq


The demand for dollar purchase decreased last Monday during the second cession of the Iraqi Central Bank auction within this week, recording a demand amounted to 43 million 800 thousand dollars, down from yesterday which was 46 million dollars.

Purchase orders were divided between 18 million and 690 thousand dollars in cash and 25 million and 110 thousand dollars in the form of remittances to abroad, which the bank fully covered by a fixed rate of exchange for the third consecutive cession, at 1470 dinars to the dollar.
However, not any of the ten banks participating in the auction, offered to sell the dollar to the bank.

Translated by IRAQdirectory.com Team

I have not fully caught up yet, I'm back here at page 29 post 286 and this caught my attention...

They talk about this past Monday as the second cession auction for this week, then below it talks about the past 3 cessions and how all three have stayed at a fixed rate 1470 Dinars to the Dollar... It has been a fixed rate since Monday, weird...
I thought I remember somebody pointing out last week that we were close to the rate and getting to our 1470 mark so they can knock zeros and make it what alot of you say on here which is $1.47 ...

Any thoughts or am I just reading into it too much???

Originally Posted by MC Dig

Probably not a big deal,it is still at 1470.5, but it should not be changing at all.

I saw the USDIQD rate change 2 or 3 time yesterday morning also. I wasn't sure what to make of it.