Baghdad, 27 January 2008 (Voices of Iraq)
Demand for the dollar dropped sharply in the Iraqi Central Bank's auction on Sunday, registering at $25।825 million compared to $91.395 million on Thursday.
"The demand hit $7.625 million in cash and $18.360 million in money transfers outside the country, all covered by the bank at a stable exchange rate of 1,213 Iraqi dinars per dollar, unchanged for the fifth consecutive session," according to the central bank's daily bulletin which was received by Aswat al-Iraq - Voices of Iraq - (VOI).
The 15 banks participating in the auction offered to sell $2 million, which the bank bought at an exchange rate of 1,211 Iraqi dinars per dollar.
In statements to VOI, Ali al-Yasseri, an Iraqi trader, said that banks have delayed their remittances and decreased their cash bids to a minimum in an attempt to force the bank to lower its exchange rate.
However, the bank adopted a consistent policy and did not yield to pressure," he added.
The Iraqi Central Bank runs a daily auction from Sunday to Thursday.
sumber : http://www.iraqupdates.com/p_articles.php/article/26651
