CBI sells $3.3bn in May

BAGHDAD / IraqiNews.com: Demand for the dollar increased in the Central Bank of Iraq (CBI) auctions in May 2009, hitting $3.34 billion at a stable exchange rate of 1,170 Iraqi dinars (ID) per dollar throughout 21 sessions– compared to April’s $2.6 billion. “The demand hit $617.420 million in cash, compared to $339.175 million in April, covered by the bank at an exchange rate of ID1,176, while foreign transfers outside the country registered $2.417 billion compared to $2.262 billion in the previous month, covered at an exchange rate of ID1,173,” according to a CBI news bulletin received by IraqiNews.com news agency. None of the banks that participated in this month’s sessions offered to sell dollars. The Central Bank of Iraq runs a daily auction from Sunday to Thursday. SS (P)/SR 1