Replies to post #8149 on Iraqi Dinar Discussion Board (IQD)

[RJ Trotts]

I am ready for some 1230's already...LOL

[RICK C]

Finance & Banking

Demand for dollar stable in daily auction

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Baghdad, 11 July 2007 (Voices of Iraq)
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Demand for the dollar was stable in the Iraqi Central Bank’s auction on Tuesday, reaching $62.865 million compared with $65.170 million on Monday.

In its daily statement the bank said it had covered all bids, including $14.825 million in cash and $48.40 in foreign transfers, at an exchange rate of 1,249 dinars per dollar, the same as yesterday.

The 15 banks that participated in Tuesday's auction offered to sell $15 million dollars, which the bank bought at an exchange rate of 1,247 dinars per dollar.

Abdul Raziq Sadiq al-Ajaibi, an economic expert, told the independent news agency Voices of Iraq (VOI) that the bank's pricing policy during the first half of the current year has led to instability in the demand for dollar over the week.

The Iraqi Central Bank runs a daily auction from Sunday to Thursday.