Interesting auction.......

Check this out! - CBI Auction Results for 05-26-10: $156,485,000 M [$1,000 cash & $1,155,485,000 Transfers Out]


That's right, the cash portion of the auction was for only $1,000 (or IQD 1170). The CBI reports auction volume in 000's so this is the smallest possible cash auction in which the CBI would be selling IQD. The last auction was also very small at $60,000. I hope that his means that the CBI is shutting off the cash portion of the auction as part of its efforts to withdraw the large denomination bills from the county.

Currency Auctions
Announcement No. (1662)

The latest daily currency auction was held in the Central Bank of Iraq on the 30-MAY-2010. The results were as follows:
Details Notes
Number of banks 13
Auction price selling dinar / US $ 1170
Auction price buying dinar / US $ -----
Amount sold at auction price (US $) 156,485,000
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 156,485,000
Total offers for selling (US $) -----

1,170 156,485 1 155,485
http://www.cbi.iq/index.php?pid=CurrencyAuctions
http://www.cbi.iq/documents/CBI_FOREIGN_EXCHANGE_AUCTIONS.pdf