CBI sells $120m, lowers exchange rate by 1 point

BAGHDAD / IraqiNews.com: The Central Bank of Iraq’s dollar sales went down at its auction on Sunday to $120.165 million at an exchange rate of 1,170 Iraqi dinars, lower by one point compared to the previous session, according to a CBI bulletin. “Total demand on the dollar reached $120.165 million from $221.860 million in the previous session,” read the bulletin as received by IraqiNews.com news agency. “The dollar demand was distributed as $25.165 million in cash covered by the bank at an exchange rate of 1,176 Iraqi dinars per one dollar, including the CBI’s commission of six dinars per each dollar, and $95 million in foreign transfers covered by the bank at an exchange rate of 1,173 Iraqi dinars per one dollar,” it added. The CBI holds five foreign exchange buying and selling sessions on a weekly basis from Sunday to Thursday. AmR (P) 1