Aggiedad77: Good Morning Family.....it's been a busy weekend for us here locally, won't go into the why-fors and such...but just too much other stuff getting in the way of news summaries...sorry about that. I've been here and reading things though.
As to this post about the auctions and the other recent auctions....here's my twist on it.....and I guess it goes against the grain of some others...but for what it is worth.
I see this as a great thing.....someone within the CBI, ( see article below) maybe it's "keywords" but I doubt it, maybe it's Dr. S, possibly, or maybe it's PM Abadi, just as likely I think has lit the fire of the CBI to stand up and put a foot forward in defiance of the Finance Committee's edict of Article 50.....stand up and show the Parliament they do not rule the roost when it comes to the CBI....
Stand up and show the Iraqi people it has been Article 50 that put handcuffs on the IQD the past 5 months.....bring back the auctions as they were doing and had been doing for years which helped to stabilize things and keep inflation at bay, which we know now is less than 2%....an awesome level by the way......
They have already seen remarkable results in just a matter of a couple of days with their newfound boldness.....the exchange rate has turned around over 100 points......and for this I applaud their efforts.
Yes security comes in many forms, security against the dangers associated with the threats of ISIS, security as in a national reconciliation effort, economic security and within that security in the banking and exchange rate efforts.....
Dr. S has spoken of security for several years, and I think his intent is a large combination of all of this, but especially that which is associated with the economic recovery and the monetary reform.....he must have a well orchestrated laundry list of things he expects to see in place and it would not surprise me one bit if our I-Team has laid eyes on that list at one time or another.
There is great faith in Dr. S and his motives for what needs to be accomplished in Iraq to bring them into the world as a global leader and I think we are seeing more and more of those efforts as time passes.
I believe the CBI maybe through PM Abadi has seen yet another green light, this time the green light has shone for them to once again begin to advance the exchange rate by bringing the IQD and the USD closer together, proving they do know what is best for Iraq, and not from any political standpoint but from a true economical standpoint.
This isn't making the Finance Committee happy because for once they are left with rotten eggs dripping from their faces....but so be it....you took your pot shot and the eggs are the result.
Remember, the BEST is yet to come! Aloha Randy
walkongstick : Currency Auction Results
Announcement No. (2977)
Opening Offers sale and purchase of foreign currency daily window nine hundred and seventy-seven two thousand in the Central Bank of Iraq on Monday for a brief summary 22.06.2015 and the port on Sunday, a brief summary 21.06.2015 and the results were as follows:
The number of banks 25
Number of remittance companies 3
Price foundation on which the successful bidder, selling dinars / USD 1166
The price at which the successful bidder, Hraoua dinars / USD -----
The amount sold by the bank at the auction - dollars 265 209 979
The amount purchased by the bank at the auction - dollars -----
Total Buy Offers - dollars 265 209 979
Total sales - dollars Offers ----