Originally Posted by
Socata 850
Number of banks 15 -----
Auction price selling dinar / US $ 1411 -----
Auction price buying dinar / US $ 1409 -----
Amount sold at auction price (US $) 60.250.000 -----
Amount purchased at Auction price (US $) 200.000
Total offers for buying (US $) 60.250.000 -----
Total offers for selling (US $) 200.000
Goooooooooooooood Morning RolClub !!
I was thinking about the CBI's current reval plan and It bothered me that there is no exchange history posted on the CBI website for the month of October. I thought I wonder if this plan to remove dinars from circulation and to limit their liability has been going on for longer than we thought. I started to review all the posts in the history thread and I had to go all the way back to page 1017 which corresponds to Oct 1st. From there I was able to review every auction in October, and guess what. The CBI has been extracting dinars out of the economy alot faster than we thought. Duing the month of October the CBI recovered 1,428,874,130,000 from circulation. The amazing part is that not 1 dinar was put back into the economy NOT ONE ! Zero - Zilch - Nada !! In all the auctions not a single dinar was offered for sale back to the banks. There were 17 auctions in October. Another interesting point is that the amount of dollars being sold back to the banks has been in a steady decline. Previously an average day saw about 75 to 80 million dollars being sold where as lately the average has been around 15 to 18 million. This goes hand in hand with the theory that the bank has been drying up the supply chain. One thing I would like to add, this study would not have been possible if it had not been for the faithful and detailed posting by SGS of the CBI's daily activity and the archiving by Neno of all this valuable information, to both of you thank you very much.
So with that info I have updated the totals to include the month of October, with that we can get a clearer picture of where the CBI stands at this time in their efforts to recapture as many dinars as possible and reduce their liability before they RV the exchange rate.
1. The dinar to the dollar is down 3 more points today from 1414 to 1411
2. Another $60,050,000 (net) worth of dinars, (IQD 84,730,550,000) out of circulation
3. 15 banks participating.
4. 44th auction since the beginning of CBI's reval plan
5. 75 days into the CBI's reval plan.
6. 2,750,799,227,000 dinars pulled from circulation !!
7. Only 282,200,000 Dinars back into circulation today
8. 66 dinar change since Nov 1st (baseline was 1477) 4.468% increase in value of the dinar since beginning of reval plan