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December 04, 2006
Higher dollar demand expected in Cenbank auction
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Baghdad, Dec 4, (VOI) – Buying demand for U.S. dollars was lower in the Iraqi central bank daily auction on Monday, though dealers expected an imminent high demand for buying dollar in the auction.
The Cenbank said in its daily statement the dollar demand reached $6.500 million compared to $7 million on Sunday.
The central bank covered all bids received from local banks which were $6.500 million in foreign transfers.
The dollar rate continued its down trend dinars as the central bank moved on with the revaluation of the local currency.
The exchange rate was at 1,430 dinars per dollar, three dinars down from Sunday’s session.
Seven banks that participated in the auction offered to sell 1.930 million dollars.
Mr. Ali al-Yasseri, exchange company owner, told the independent news agency Voices of Iraq (VOI) “the central bank offered to sell dollar today with an exchange rate of 1,430 dinars which is equal to that of the local market.”
Mr. Yasseri expected the higher demands for buying dollars soon at the Central Bank auction as the exchange rate offered by the bank is almost equal to that of the local market


http://www.iraqinews.com/articlenews.php?id=2158