Morning News & Comments 01 28 2015
The Central Bank dollar sales crumble to lowest level in months
[tlm724] ok lets roll am excited this a.m. - as RCS1947 pointed out the auctions are even lower : Currency Auctions Announcement No. (2875) The latest daily currency auction was held in the Central Bank of Iraq on the 28-1-2015 results were as follows:
Details Notes Number of banks 10 Auction price selling dinar / US$ 1166 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 40,151,000
Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 40,151,000 Total offers for selling (US$)
[tlm724] and heres what bubbies showed us yesterday morning 224,986 ... 123,867 , .. 108,544 ... 97,918 ... 77,907 .. 67,593
[tlm724] this from this morning
The Central Bank dollar sales crumble to lowest level in months Wednesday, 28th January 2015 14: 46 [In Baghdad] Iraqi Central Bank sales tumbling to its lowest level for several months where Kurdish was only 40 million Wednesday and $ 151,000.
Sales at the auction today of 69 million and 593 thousand dollars. The Bank said in a statement received all Iraq IGN that "amount sold at auction price of USD 40 million and 151 million dollars at the exchange rate of 1166 dinars to the dollar and with the participation of 10 banks"
[tlm724] so there we see way less dollars going out into the banks/markets which is awesome and remember what the CBI told us ?
[tlm724] let me remind you : Central Bank decides to support banks five trillion dinars
[tlm724] so the CBI is pumping the banks full of DINARS !
[tlm724] thats why I am excited, I truly believe they are dedollarizing... just something to chew on , let that sink in while we begin our day
[dogznova] When we see low currency auction numbers like this. One MUST look at the number of banks participating in the auctions.
For example: Today there were only 10 banks participating in todays auction and only 40 million dollars brought back into the CBI.
Low auction numbers mean low bank participation.
So the real question to ask is, Why so few banks participating in the currency auction all of a sudden?
[therealbubbie] ok the auctions are low ..but not excited yet , until I see a pattern .. and give me a min and I'll show you why !!
[therealbubbie] 3,250 ... 4,321 .. 21,871... 37,660 ... 15,363... 68,033... 46,530... 85,193... 98,368 ... those are the numbers of the auctions starting in feb 1st of 2012... that was almost 3 years ago ... and whats the rate ... the same as it is now ... 1166 ... we wait !!
[therealbubbie] tlm724 oh and one other thing .... the market price was also moving in 2012!!
Diwaniyah contract with a Lebanese company for the establishment of a residential complex at a cost of $ 54 million
[tlm724] administration announced its contract with a Lebanese investment company to build a residential complex is the "first of its kind" in the center and south of Iraq
[tlm724] about time they started doing things the right way ! No reason they have to pay when investors will !
Office of the Prime Minister Haider al-Abadi: statements which calls for the revision in the agreement between Baghdad and Erbil express Qailleha and juridical
[tlm724] The Office of the Prime Minister Haider al-Abadi proceed with implementation of the oil agreement with the Kurdistan Regional Government and abide by it.
[tlm724] but both parties are committed to its implementation not new in it.
[tlm724] commitment can not be undone and the general budget of the country for 2015, built a big part of this agreement.
[tlm724] so there, now get on with it
The meeting's agenda No. (9) Thursday (29) January 2015
January 29, 2015 Third parliamentary session The first legislative year Legislative Chapter II
First, read verses from the Koran.
Second, the vote on the draft general budget of the Federal Act of 2015 ( the Finance Committee ). (Article 41).
Third: Hosting the Minister of Interior. Session begins at: eleven in the morning.