Harlequin3
...On Jan 1, the auctions stopped and became foreign reinforcements...The CBI is NOT selling money to the banks anymore - the banks MUST go get their money from OTHER banks outside the country (currency swaps, which is the essence of ForEx.)...All the CBI is doing is watching this now, making sure it's legit...Eventually, the dinar will float in this basket, and ForEx will look like a heartbeat.
But all that goes to say the auctions HAVE stopped. What you are seeing is "foreign currency reinforcements" not an auction -- the CBI has NOTHING to do with this money,
it's between the two correspondent banks, and CBI is only auditing the transaction...Without the auctions -- there is NOTHING manipulating and propping up the 1320 rate - so...what are they going to do? Raise the value...
