The chart is so simple a second grader can understand it. The street rate is clearly going up. Even you can’t deny that. There were a number of articles that stated it, and now the CBI chart has been updated to show it. When the street rate moves away from the CBI rate, that absolutely is pressure on the CBI to do something about it. If the street rate devalues, then the pressure is to devalue the dinar. If the street rate increases in value beyond that of the CBI rate, then that is pressure to increase the CBI rate for the dinar.
The CBI main goal is to provide stability in the dinar, that has been stated 1000’s of times. When the street rate diverges from the official rate, that is instability. The CBI then acts to get the two rates back close together. They have different mechanisms to do that. They can do it through the auctions, or they can just change the rate. In this latest case, they are trying to do it through auctions. The rate went up because of a lack of dollars in the market. So the CBI pumped out more dollars in the auctions. If that doesn’t work they will be forced to raise the rate.
