| 2008: Demand for dollar down in daily dinar auction |
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March 20, 2008 Demand for the dollar dipped sharply in the Iraqi Central Bank's auction on Tuesday, registering at $78.260 million compared to $131.060 million on Monday. "The demand hit $9.720 million in cash and $68.540 million in money transfers outside the country, all covered by the bank at an exchange rate of 1,208 Iraqi dinars per dollar, unchanged from yesterday," according to the central bank's daily bulletin which was received by Aswat al-Iraq- Voices of Iraq- (VOI). None of the 14 banks that participated in the auction offered to sell dollars. Speaking to VOI, Ali al-Yasseri, a trader, said that remittances significantly dropped during the session leading the overall size of demand to significantly drop." The Iraqi Central Bank runs a daily auction from Sunday to Thursday. Source: Voices of Iraq |