CBI sells US$157 million in its Wednesday auction

BAGHDAD / IraqiNews.com: The Central Bank of Iraq (CBI) has sold US$157 millions in its auction for the sale and purchase of foreign currencies on Wednesday, based on an exchange rate of 1,170 Iraqi dinars per dollar, the CBI‘s daily bulletin reported, adding that the figure is less than the previous session that reached 160 million US dollars. “The total size of the demand on the US dollar on Wednesday had reached 157 millions and 313,000 US dollars, covered by the CBI on an average exchange rate of 1,170 dinars per dollar, against Tuesday sales that reached 160 millions and 269,000 US dollars,” the bulletin stressed. It added that “the cash sales have reached 6 millions and 520,000 US dollars, including the Bank’s intest of 13 dinars per dollar, whilst the foreign transfers have reached 150 millions and 793,000 US dollars, on an average exchange rate of 1,183 dinars per dollar, including the Central Bank‘s interest of 13 dinars per dolar.” The bulletin repeated its daily comment that none of the banks that attended the CBI‘s auction, including the 25 banks that attended today’s session, have offered a single dollar for sale in the auction. The CBI holds 5 sessions per week for selling and buying foreign currencies, beginning on Sunday and ending on Thursday, charging an interest of 13 dinars per dollar, along with another 13 dinars per dollar for its foreign transfers. 505