CBI Currency Auction Results, 5th Aug

By John Lee.

The Central Bank of Iraq (CBI) has reported that 16 banks took part in its currency auction on Tuesday.

A total of $245,813,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar.

(Source: Central Bank of Iraq)

One Response to CBI Currency Auction Results, 5th Aug

  1. Stew August 5, 2014 at 6:23 pm #

    It’s funny when you read dinar sites and see all the bank rumors. Supposedly all these banks and their low level employees have been informed of an impending 100,000% or more increase in the value the dinar.
    Yeah… sure.

    They must be ignoring these auctions. These are not rumors, these are real events. 4 or 5 times a week the CBI holds an auction and a dozen or so banks participate. These banks sell BILLIONS of dinars back the the CBI for 1166 per dollar at every auction.

    So while dinar believers are soaking up rumors of banks and their employees all the way down to tellers being in on the big RV… in the real world banks every day sell MASSIVE amounts of dinar back to Iraq for 1166.
    I guess those banks participating in the auctions must have been left out the loop, they don’t seem to be aware that any day now Iraq will pop 100,000% or more.

    Oh yeah. One more piece of massive misinformation coming from dinar scammers about these auctions. They claim all this dinar is being removed from circulation and reducing the money supply numbers. While that is basically true, the scammers fail to inform that the Iraq gov takes the dinar and puts it right back into circulation through budgetary and other expenses, and they put more into the system then they are buying back. That is why the money supply numbers are growing constantly.