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[Whats with the auction yesterday of only 2 million and 3 banks attending? any idea…?]

IMO…we have a starting line, …the IMF announcement (MOU and 2016) and the starting gun has sounded. Off in the distance (first half of 2016) is the finish line.

The adjustment in the buy/sell value was done with the IMF, the changes with the auctions is expected and is part of getting to the finish line.

[Why does the CBI on the auctions still show 1166… when the rate was changed to 1182?]

More of the mystery…however, the CBI is not doing any of this in a vacuum…again, the IMF announced that there is a MOU in effect. So, the two of them, CBI and the IMF, are doing things that will get Iraq to what the IMF expects during 2016.

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