Demand for dollar drops in CBI auction

BAGHDAD / IraqiNews.com: Demand for the dollar went down at the Central Bank of Iraq’s (CBI) auction on Thursday, registering at $124.620 million, compared to $171.610 million in the previous session. “The demand hit $58.370 million in cash, covered by the bank at an exchange rate of 1,182 Iraqi dinars per dollar; and $66.250 million in foreign transfers outside the country at an exchange rate of 1,179 Iraqi dinars per dollar,” according to a release issued by the CBI. None of the 14 banks that participated in the session offered to sell dollars. The Central Bank of Iraq runs a daily auction from Sunday to Thursday. SH (P) 1