| 2008: Significant drop in the demand for the dollar in dinar auction |
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March 13, 2008 Demand for the dollar dipped sharply in the Iraqi Central Bank's auction on Thursday, registering at $55.815 million compared to $105.365 million on Wednesday. "The demand hit $23.505 million in cash and $32.310 million in money transfers outside the country, all covered by the bank at an exchange rate of 1,209 Iraqi dinars per dollar, unchanged for the fourth session in a row," 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 |