CBI dollar sales plunge

BAGHDAD / IraqiNews.com: The Central Bank of Iraq (CBI) dollar sales plunged dramatically in its daily auction on Sunday to reach $61.265 million compared to last session’s $159.645 million. “The demand hit $8.750 million in cash, covered by the bank at an exchange rate of 1,183 Iraqi dinars, and $52.515 million in foreign transfers outside the country, covered at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by Iraqi News. 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. AmR (P)/SR 1