I hope this last paragraph means what I hope it means????Voices of Iraq: Iraq-Currency Posted by: nakr2004 on Wednesday, April 25, 2007 - 03:00 PM
Iraq-Currency
Lower demand for dollar in daily auction
By Dergham Mohammed Ali
Baghdad, Apr 25, (VOI) – Demand for the dollar decreased in the Iraqi Central Bank’s daily auction on Wednesday, reaching $63.975 million compared with $83.140 million on Tuesday.
In its daily statement the bank said it had covered all bids, which included $7.735 million in cash and $56 million in foreign transfers, at an exchange rate of 1,270 dinars per dollar, unchanged from Monday.
Twelve banks participated in Tuesday's auction and offered to sell two million dollars. The Iraqi Central Bank bought the entire amount at 1,270 per Iraqi dinar.
Ali al-Yasseri, a trader at the auction, told VOI "the decline in demand for the dollar in today's session was partially due to the decrease in bids for dollars in foreign transfers at the session, and partially due to speculations that the bank will not change the exchange rate at auction until next week."
...............Lets hope it goes up!!!!
