CBI dollar sales slump to $97m

BAGHDAD / IraqiNews.com: Demand for the dollar in the Central Bank of Iraq (CBI) auction on Sunday plummeted by 63 percent to reach $97 million compared to $153.815 million during the previous session at an exchange rate of 1,170 Iraqi dinars per dollar. “The demand hit $10.250 million in cash, covered by the bank at an exchange rate of 1,183 Iraqi dinars, and $86.750 million in foreign transfers outside the country, covered at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by Iraqi News. 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