CBI dollar sales nosedive to $50m

BAGHDAD / IraqiNews.com: The Central Bank of Iraq (CBI) dollar sales was down to a dramatic plunge in its daily auction on Sunday to reach $50.250 million compared to $117.150 million during the previous session. “The demand hit $4.500 million in cash, covered by the bank at an exchange rate of 1,183 Iraqi dinars, and $45.750 million in foreign transfers outside the country, covered at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by Iraqi News. None of the seven banks that participated in today’s session offered to sell dollars. The Central Bank of Iraq runs a daily auction from Sunday to Thursday. AmR (P) 1