| 2008: Slight drop in the demand for the dollar in iraqi dinar auction |
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May 6, 2008 Demand for the dollar was slightly down in the Iraqi Central Bank's dinar auction on Tuesday, reaching $127.170 million compared to $133.510 million on Monday. "The demand hit $6.885 million in cash and $120.285 million in money transfers outside the country, all covered by the bank at an exchange rate of 1,201 Iraqi dinars per dollar, same as yesterday," 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 $1.200 million, which the bank bought at an exchange rate of 1,199 dinars per dollar. In an exclusive statement to VOI, Ali al-Yasseri, a trader, said that the overall demand for the dollar is above average, following a sharp drop last week. The Iraqi Central Bank runs a daily auction from Sunday to Thursday. Source: Voices of Iraq |