Dinar Reporter (IQDUSD)

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Demand for dollar up as exchange rate goes two ticks down

Baghdad - Voices of Iraq
Monday , 21 /04 /2008 Time 3:21:48




Baghdad, Apr 21, (VOI)- Demand for the dollar was up in the Iraqi Central Bank's auction on Monday, registering at $129.815 million compared to $83.800 million on Sunday, while the dollar exchange rate went down two ticks against the dollar.
"The demand hit $8.395 million in cash and $121.420 million in money transfers outside the country, all covered by the bank at an exchange rate of 1,202 Iraqi dinars per dollar, two ticks lower than yesterday," according to the central bank's daily bulletin which was received by Aswat al-Iraq- Voices of Iraq- (VOI).
The 16 banks that participated in the auction offered to sell 1.400 million dollars, which the bank bought all at a rate of 1200 dinars per dollar.
Speaking to VOI, Ali al-Yasseri, a trader, said that banks expected the change in exchange rate in today’s session which led to the increase in remittances and bids in the session, raising the overall demand for the dollar.
SK