Demand for the dollar halved in CBI’s auction

BAGHDAD / IraqiNews.com: Demand for the dollar dropped by half in the Central Bank of Iraq’s (CBI) auction on Tuesday, registering at $75.84 million, compared to $162.92 million in the previous session. “The demand hit $32.88 million in cash, covered by the bank at an exchange rate of 1,176 Iraqi dinars, and $42.96 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 12 banks that participated in today’s session offered to sell dollars. The Central Bank of Iraq runs a daily auction from Sunday to Thursday. SS (P) 1