Iraqi Dinar Discussion Board

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CBI’s dollar sales surge to 251m
March 11, 2010 - 02:02:45

BAGHDAD / Aswat al-Iraq: The Central Bank of Iraq’s (CBI) dollar sales rose significantly to $251.565 million in its daily auction on Thursday, compared to $181 million in the previous session.

“The demand hit $11.990 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $239.575 million in foreign transfers outside the country, covered at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the 19 banks that participated in today’s session offered to sell dollars.

The Central Bank of Iraq runs a daily auction from Sunday to Thursday.

sportfisher-that other link didn't have all the details like this one, it used to show cash and electron. transfers but here it makes more sense huh! 11.99 mil lets call it $12 mill. US worth of dinar was sold to the CBI from the 19 banks. And you can see the CBI makes 13 dinar off each dollar's worth they buy. So I was wrong and had it backwards-the banks got rid of dinar back to the central bank and got dollars in return.

See how misleading and hard to decipher this chit is from Iraq at times!








http://en.aswataliraq.info/?p=128402