| 2008: Demand for dollar higher at daily Iraqi dinar auction |
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April 16, 2008 Demand for the dollar was up in the Iraqi Central Bank's auction on Wednesday, registering at $123.650 million compared to $87.240 million on Tuesday. "The demand hit $8.560 million in cash and $115.090 million in money transfers outside the country, all covered by the bank at an exchange rate of 1,204 Iraqi dinars per dollar, unchanged for the 8th session in a row," according to the central bank's daily bulletin which was received by Aswat al-Iraq- Voices of Iraq- (VOI). The 16 banks that participated in the auction offered to sell 1.220 million dollars, which the bank bought all at a rate of 1202 dinars per dollar. Speaking to VOI, Ali al-Yasseri, a trader, said that banks expect a change in exchange rate on Wednesdays which led to the increase in remittances and bids in cash in toady’s session, raising the overall demand for the dollar. Source: Voices of Iraq |