Thread: Iraq/Dinar News. 09/05 to 01/14/07

Announcement No.(812)

D.G. of Foreign Exchange Control

The 812 daily currency auction was held in the Central Bank of Iraq day Thursday 2006 / 11/ 23 so the results were as follows :

Details Notes
Number of banks 6 -----
Auction price selling dinar / US $ 1441 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 5.290.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 5.330.000 -----
Total offers for selling (US $) ------ -----

Cash amounts sold to the bank and its customers were USD(1.290.000) at a rate of(1441+1+10=1452)IQD\USD .
The amount sold to make transfers abroad was USD (4.000.000) at a rate of (1441-2)+ one dinar as a bank fee and exempt the transferred amount from conversion fee.

Just a little information I ran across for future reference.

UNCTAD.ORG >> Trust Funds for WTO accession

Trust Funds for WTO accession
UNCTAD Trust Fund for WTO accession
Sponsored by the Government of the UK and the Government of Norway

In line with their commitment to improve the capacity of developing countries to take advantage of new trade opportunities, DFID decided in 1999 to fund an UNCTAD Accession Trust Fund Project aimed at building the capacity of developing countries to participate effectively in the WTO accession negotiations.

The Accession Trust Fund Project, renewed twice, is now in its third phase and receiving funding from the Government of Norway.

Countries covered:


Azerbaijan
Cape Verde
Laos
Samoa
Yemen
Afghanistan
Ethiopia
Kazakhstan
Serbia
Bhutan
Iraq
Montenegro
Sudan

Countries added to the project:


Cambodia

Wow... I am feeling under the weather today, and haven't been on, but I just saw what was posted by the CBI...

Is it me, or does it appear that things are moving in the direction we want them to?

Only 5 mill? Am I seeing that correctly?

This could be a very nice Thanksgiving..

Dan

Just a thought:

First they tell that their will be a tight monetary policy by the CBI and that they will increase the exchange rate. We see the exchange rate improving through the auctions and we know from wm.knowles that it cannot go on forever.

We thought, now they have to RV soon to prevent further speculation.

Nothing happend, only CBI pulling out money from circulation and small increase in exchange rate.

We saw no RV with the EU negotiations so something was holding up. In my opinion this is the HCL.

Wm.Knowles tells us that when the amount is lower and number of banks is lower the target can be reached or there is a dry up period.

We saw that yesterday!

Now, yesterday the press release comes out where they mention the lower denominations. Lower denoms are the key to a RV.

I cannot understand that they are bringing this out if they are not planning a RV very soon.

Personally I think the HCL is the one that holds it up, but we know that they are going to discuss the HCL today again.

Maybe we are in the drying up period with the CBI auctions already (what we can see better today with the last auction).

Maybe they also know that they are gonna pass the HCL today (time is running out).

So why bringing the press release out about the lower denoms which is related to a RV, unless you know that the target is reached or will be reached in a very short period (this week) by the CBI and the Hydrocarbon law could be or will be passed today.

I can't place these kind of statements by the CBI if you will be waiting another 1.5 month!

Any comments?

Originally Posted by _Apollo_

Wow... I am feeling under the weather today, and haven't been on, but I just saw what was posted by the CBI...

Is it me, or does it appear that things are moving in the direction we want them to?

Only 5 mill? Am I seeing that correctly?

This could be a very nice Thanksgiving..

Dan

and only 6 banks. Is there any significance in that?

Originally Posted by PopaDinar

Announcement No.(812)

D.G. of Foreign Exchange Control

The 812 daily currency auction was held in the Central Bank of Iraq day Thursday 2006 / 11/ 23 so the results were as follows :

Details Notes
Number of banks 6 -----
Auction price selling dinar / US $ 1441 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 5.290.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 5.330.000 -----
Total offers for selling (US $) ------ -----

Cash amounts sold to the bank and its customers were USD(1.290.000) at a rate of(1441+1+10=1452)IQD\USD .
The amount sold to make transfers abroad was USD (4.000.000) at a rate of (1441-2)+ one dinar as a bank fee and exempt the transferred amount from conversion fee.

Wow, look at the amount and number of banks. Looks like we are in the drying up period.

HCL today on the program and hopefully it will pass today because time is running out.

Press statement yesterday about lower denoms.

Maybe a RV this weekend.

Originally Posted by kiko

Just a thought:

First they tell that their will be a tight monetary policy by the CBI and that they will increase the exchange rate. We see the exchange rate improving through the auctions and we know from wm.knowles that it cannot go on forever.

We thought, now they have to RV soon to prevent further speculation.

Nothing happend, only CBI pulling out money from circulation and small increase in exchange rate.

We saw no RV with the EU negotiations so something was holding up. In my opinion this is the HCL.

Wm.Knowles tells us that when the amount is lower and number of banks is lower the target can be reached or there is a dry up period.

We saw that yesterday!

Now, yesterday the press release comes out where they mention the lower denominations. Lower denoms are the key to a RV.

I cannot understand that they are bringing this out if they are not planning a RV very soon.

Personally I think the HCL is the one that holds it up, but we know that they are going to discuss the HCL today again.

Maybe we are in the drying up period with the CBI auctions already (what we can see better today with the last auction).

Maybe they also know that they are gonna pass the HCL today (time is running out).

So why bringing the press release out about the lower denoms which is related to a RV, unless you know that the target is reached or will be reached in a very short period (this week) by the CBI and the Hydrocarbon law could be or will be passed today.

I can't place these kind of statements by the CBI if you will be waiting another 1.5 month!

Any comments?

I must have been in a cave, I missed the part about the HCL being discussed today

Originally Posted by _Apollo_

Wow... I am feeling under the weather today, and haven't been on, but I just saw what was posted by the CBI...

Is it me, or does it appear that things are moving in the direction we want them to?

Only 5 mill? Am I seeing that correctly?

This could be a very nice Thanksgiving..

Dan

Things are looking real good. And only 6 banks and again they post early!

Originally Posted by jsfletcher

I must have been in a cave, I missed the part about the HCL being discussed today

No problem. I read it also in another article.

From yesterday:

"...'The Oil Committee is going to resume its meetings on Thursday to discuss the Oil Law,' Deputy Prime Minister Barham Salih said..."

Iraq leaders still wrangling over oil law | Iraq Updates

HCL is directly related with the ICI. HCL in return for AID.

They better can pass it quick, because time is running out.

What a great surprise...CBI posted 1-1/2 hours or so early, only 6 banks, 5 million.....I think they are scraping the bottom of the barrel now gang. At this rate there is no way it can last until Mid December.....I'm still in for a November reval.