Dollar demand drops in CBI auction

BAGHDAD / IraqiNews.com: Demand for the dollar went down at the Central Bank of Iraq (CBI) auction on Tuesday, registering at $178.15 million, compared to more than $233 million in the previous session.   “The demand hit $31.200 million in cash, covered by the bank at an exchange rate of 1,181 Iraqi dinars per dollar; and $146.950 million in foreign transfers outside the country at an exchange rate of 1,178 Iraqi dinars per dollar,” an official source from the bank told IraqiNews.com. None of the 15 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