CBI dollar sales down to $566 million this week

BAGHDAD / IraqiNews.com: Total demand on the dollar in the Central Bank of Iraq (CBI) auctions went down this week to reach $566 million at a stable exchange rate of 1,170 Iraqi dinars per each dollar for the third week in a row. Last week’s sales were $585 million. This week only four sessions were held as the Central Bank of Iraq suspended buying and selling activities in its auction on Sunday, which was officially announced as a national holiday due to the local elections. Total cash demands reached $144.100 million at an exchange rate of 1,176 ID per dollar while foreign transfers hit $422.535 million at an exchange rate of 1,173 per dollar. The CBI holds five foreign exchange buying and selling sessions on a weekly basis from Sunday to Thursday. SH (P) 1