| 2008: Demand for dollar hits record at daily Iraqi dinar auction |
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March 25, 2007 Demand for the dollar on Tuesday hit a record at the Iraqi Central Bank's auction, registering at $132.450 million compared to $120.280 million on Monday. "The demand hit $10.050 million in cash and $122.400 million in money transfers outside the country, all covered by the bank at an exchange rate of 1,207 Iraqi dinars per dollar, unchanged for the third session in a row, " according to the central bank's daily bulletin which was received by Aswat al-Iraq- Voices of Iraq- (VOI). The 17 banks that participated in the auction offered to sell 900.000 dollars, which the bank bought all at a rate of 1205 dinars per dollar. Speaking to VOI, Ali al-Yasseri, a trader, said that remittances were very high in today's session raising the overall demand for the dollar. Al-Yasseri expected that tomorrow's session will witness more demand for the dollar as governmental remittances are increasing in this time of the year. Source: Voices of Iraq |