Slump in dollar demand in CBI auction

BAGHDAD / IraqiNews.com: Demand for the dollar rose in the Central Bank of Iraq’s (CBI) auction on Wednesday, registering at $198.555 million, compared to $201.225 million in the previous session. “The demand hit $25.405 million in cash, covered by the bank at an exchange rate of 1,176 Iraqi dinars, and $173.150 million in foreign transfers outside the country covered by the bank at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by IraqiNews.com news agency. None of the 14 banks that participated in today’s session offered to sell dollars. The Central Bank of Iraq runs a daily auction from Sunday to Thursday. SH (P) 1