The Central Bank of Iraq Dinar Exchange Rate News October 19, 2007
Posted by dinarnews in Exchange Rate.trackback
Demand for the dollar increased in the Iraqi Central Bank’s auction on Wednesday, reaching $117.140 million compared to $71.275 million last Thursday.
In its daily statement, the bank said it had covered all bids, including $11.150 million in cash and $105.990 in foreign transfers, at an exchange rate of 1,232 dinars per dollar, the same for the fifth consecutive day.
The 15 banks that participated in Wednesday’s session offered to sell one million dollars, which the bank bought at an exchange rate of 1,230 dinars per dollar.
In statements to the independent news agency Voices of Iraq (VOI), Ali al-Yasseri, a trader, said that the dramatic increase in the demand for dollar is attributed to the long period of closure because of the Eid al-Fitr (the Lesser Bairam) and the announcement made by the Central Bank to stabilize the dollar exchange rate until tomorrow’s session.
