Demand for the dollar doubles in CBI auction

BAGHDAD / IraqiNews.com: Demand for the dollar was remarkably higher at the Central Bank of Iraq (CBI) auction on Thursday, registering at $169.375 million, compared to over $74 million in the previous session. “The demand hit $33.875 million in cash, covered by the bank at an exchange rate of 1,179 Iraqi dinars per dollar; and $135.5 million in foreign transfers outside the country at an exchange rate of 1,176 Iraqi dinars per dollar,” according to a release issued by the CBI. None of the 13 banks that participated in the session offered to sell dollars. The Central Bank of Iraq runs a daily auction from Sunday to Thursday. SS (P) 1