Sharp drop on demand for dollar on Wednesday

BAGHDAD / IraqiNews.com: Demand for the dollar went down in the Central Bank of Iraq (CBI) auction on Wednesday, reaching $105.660 compared to $222.380 million in the previous session. “The demand hit $20.040 million in cash, covered by the bank at an exchange rate of 1,176 Iraqi dinars, and $85.620 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 17 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