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BGG explains why the auctions are back
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BGG explains why the auctions are back
BGG
[How come the CBI still shows daily auctions?] because they are having daily currency auctions.
[I thought they stopped?] They did - based on urging from Parliament... however, I suspect, for the short term - they were "instructed" to restart them (likely at the behest of Dr Shabibi)... as the primary short term tool for stabilizing the exchange rate...that has traditionally been Shabibi's stance - which is why - once he made his recent appearance they went back to something of an "auction environment
Ponee- Admin
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Re: BGG explains why the auctions are back
Go back to your broken down work bench- Learn how to get it done,and then do so, and no more bull excrement-
Terbo56- VIP Member
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Re: BGG explains why the auctions are back
I do not think they were instructed to do anything. Nor did Shabibi have a part in it. CBI restarted the auctions in response to the intractable loss of value in the dinar. They were worried about potential instability in the market and took known and proven action to stabilize the dinar. They may have done it in consultation with the Minister of Finance, but that's about it.
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