Dollar demand plunges in daily auction

BAGHDAD / IraqiNews.com: Demand for the dollar plummeted at the Central Bank of Iraq (CBI) auctions this week, registering $68.835 million, compared to $134.070 million in the previous session. The demand hit $49.085 million in cash, covered by the bank at a stable exchange rate of 1,181 and $19.750 million in foreign transfers outside the country covered by the bank at a stable exchange rate of 1,178 Iraqi dinars per dollar, according to a CBI news bulletin. None of the 10 banks that participated in this week’s session offered to sell dollars. The Central Bank of Iraq runs a daily auction from Sunday to Thursday. AmR (P) 1