Demand for dollar drops in daily auction

BAGHDAD / IraqiNews.com: Demand for the dollar went down in the Central Bank of Iraq (CBI) auction on Sunday, reaching $109.600 million at a stable exchange rate of 1,172 Iraqi dinars. The demand reached $96.600 million in cash, covered by the bank at an exchange rate of 1,178 Iraqi dinars, and $13 million in foreign transfers outside the country covered by the bank at an exchange rate of 1,175 Iraqi dinars per dollar, according to a CBI news bulletin. None of the 11 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)/SR 1