| 2008: Demand for dollar up, exchange rate stable in daily auction |
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April 24, 2008 Demand for the dollar was up in the Iraqi Central Bank's auction on Thursday, registering at $77.270 million compared to $39.110 million on Wednesday. "The demand hit $10.270 million in cash and $67 million in money transfers outside the country, all covered by the bank at an exchange rate of 1,202 Iraqi dinars per dollar, the same for the 4th session in a row," according to the central bank's daily bulletin which was received by Aswat al-Iraq - Voices of Iraq - (VOI). The 15 banks that participated in the auction offered to sell 850,000 dollars, which the bank bought all at a rate of 1200 dinars per dollar. Speaking to VOI, Ali al-Yasseri, a trader, said that demand for dollar was expected to increase to double yesterday’s demand and the increase in remittances and bids in the session, raising the overall demand for the dollar. Source: Voices of Iraq |