CBI sales down to $122m in daily auction

BAGHDAD / IraqiNews.com: Demand for the dollar dropped in the Central Bank of Iraq (CBI) auction on Thursday, reaching $122.480 million compared $155.455 million in the previous session. “The demand hit $47.670 million in cash, covered by the bank at an exchange rate of 1,176 Iraqi dinars, and $74.810 million in foreign transfers outside the country, covered by the bank at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by IraqiNews.com news agency. None of the 15 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) 1