| 2007: Higher demand for dollar, stable exchange rate in daily auction |
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October 22, 2007 Demand for the dollar was higher in the Iraqi Central Bank’s auction on Monday, reaching $114.880 million compared to $94.960 million on Sunday. In its daily statement, the bank said it had covered all bids, including $19.680 million in cash and $95.200 in foreign transfers, at an exchange rate of 1,232 dinars per dollar, unchanged for the eighth session in a row. None of the 17 banks that participated in Monday's session offered to sell dollars. In statements to the independent news agency Voices of Iraq (VOI), Ali al-Yasseri, a trader, attributed the increasing demand to Iraqi pilgrims' need for dollars to pay for pilgrimage costs. The Iraqi Central Bank runs a daily auction from Sunday to Thursday. Source: Voices of Iraq |