| 2007: Demand for dollar, exchange rate down in daily auction |
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Monday , 22 /10 /2007 Time 2:36:13 Baghdad, Jun 28, (VOI) - Demand for the dollar was down in the Iraqi Central Bank’s auction on Thursday, reaching $53.440 million compared with $60.770 million on Wednesday. In its daily statement the bank said it had covered all bids, including $22.540 million in cash and $30.900 in foreign transfers, at an exchange rate of 1,250 dinars per dollar, one tick lower than yesterday. The 15 banks that participated in Thursday's auction offered to sell $8.500 million dollars, which the bank bought at an exchange rate of 1,248 dinars per dollar. Ali al-Yasseri, a trader, told the independent news agency Voices of Iraq (VOI) that bids to sell dollars came as the bank’s exchange rate was still lower than the local market, which represented an incentive for traders. The Iraqi Central Bank runs a daily auction from Sunday to Thursday SH/TP |