Demand for the dollar drops in CBI’s auction

BAGHDAD / IraqiNews.com: Demand for the dollar was down in the Central Bank of Iraq’s (CBI) auction on Wednesday, the last this year, registering at $115.06 million compared to $149.880 million during the previous session. “The demand hit $63.860 million in cash, covered by the bank at an exchange rate of 1,178 Iraqi dinars, and $51.20 million in foreign transfers outside the country covered by the bank at an exchange rate of 1,175 Iraqi dinars per dollar, according to a CBI news bulletin received by IraqiNews.com. 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. SS (P) 1