Replies to post #7864 on Iraqi Dinar Discussion Board (IQD)

[Zoinkers]

I'm hoping for that as well. But was wondering if a letter/Email to a higher power would help convince more of the financial institutions to trade this currency. If/when it does go up even higher in value and some would like to sell. Right now we are limited in those that are willing to exchange the DINAR for us.

Trav.

[RICK C]

Finance & Banking

Sharp drop in demand for dollar in daily auction

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Baghdad, 02 July 2007 (Voices of Iraq)
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Demand for the dollar was sharply down on Sunday, reaching $15.050 million, the lowest for more than six months.

In its daily statement the bank said it had covered all bids, which included $3.210 million in cash and $11.840 million in foreign transfers, at an exchange rate of 1,250 dinars per dollar, the same as Thursday.

None of the 9 banks that participated in Sunday’s auction offered to sell dollars.

Ali al-Yaseri, a trader at the auction, told VOI "the decline in the exchange rate and the weak participation of banks in today's auction, due to the attack by mortar shells on the Shorga market last Thursday, brought demand for the dollar down."

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

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Announcement No.(957)

D.G. of Foreign Exchange Control

The 957 daily currency auction was held in the Central Bank of Iraq day Monday 2007/7/2 so the results were as follows :

Details Notes
Number of banks 12 -----
Auction price selling dinar / US $ 1250 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 41.235.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 41.235.000 -----
Total offers for selling (US $) ----- -----