Dollar demand doubles in CBI auction

BAGHDAD / IraqiNews.com: Demand for the dollar doubled at the Central Bank of Iraq’s (CBI) auction on Monday, reaching $245.45 million compared to 110.18 million during the previous session. The demand reached $40.1 million in cash, covered by the bank at a stable exchange rate of 1,180 Iraqi dinars, and $205.35 million in foreign transfers outside the country covered by the bank at a stable exchange rate of 1,177 Iraqi dinars per dollar, according to a CBI news bulletin. None of the 13 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