Central Bank of Iraq (CBI) sells US$283 millions in its Monday auction

BAGHDAD / IraqiNews.com: The Central Bank of Iraq (CBI) has sold US$283 millions in its Monday auction for sale and purchase of foreign currencies, in a bid to continue the process of pumping foreign currency to restore the value of exchange to its average priceafter its rise about two weeks ago.”The total demand on the US dollar on Monday has reached 283 millions and 150,000 US dollars, covered by the CBI on an exchange rate of 1,170 Iraqi dinars per dollar, whilst its sales during its previous session on Sunday had reached ” the CBI‘s daily bulletin reported.It pointed out the CBI‘s sales had registered its highest average exchange sales this year, that reached 293 millions and 990,000 US dollars in its Sunday session.The bulletin pointed out that the exchange rate during the past two weeks had reached to 1,235 dinars per dollar, to return today to 1,210 dinarsper dollar, after ranging between 1,190 and 1,200 dinars per dollar during the past few months.The CBI‘s today’s cash sales had reached 28 millions and 500,000 dollars, on an average exchange rate of 1,183 dinars per dollar, along with theBank’s interest of 13 dinars per dollar, whilst the foreign transfers had reached 254 millions and 650,000 US dollars, also on an exchange rate of 1,183 dinars per dollar, including the Bank’s interest of 13 dinars per dollar, whilst none of the 22 banks that attended today’s session had offereda single dollar for sale.The CBI holds 5 sessions per week for sale and purchase of foreign currencies, beginning on Sunday and ending on Thursday, charging an interest of 13 dinars per dollar for its cash sales and 13 dinars per dollar for its foreign transfers. 679