ECONOMY: Central Bank of Iraq closes its weekly acution with selling US$68 millions

2/9/2012

BAGHDAD / Aswat al-Iraq: The sales of the Central Bank of Iraq (CBI), in its auctions

for selling and buying foreign currencies had raised in the closing of its weekly auctions

on Thursday with selling US$68 millions, compared with 15 million dollars in its previous

session, and on an exchange rate of 1,166 Iraqi dinars per dollar, according to the CBI's daily bulletin.

The bulletin, copy of which was received by Aswat al-Iraq news agency, pointed out that the total size of the dollar sales has reached 68 millions and 33,000 dollars, covered by the CBI

on an exchange rate of 1,166 dinars per dollar, adding that today's sales are considered much higher than the previous session that recorded 15 millions and 363,000 US dollars only.

The CBI's dollar sales had decreased during the past 2 sessions of last week to reach 4 millions and 321,000 dollars and 3 millions and 250,000 dollars, successively, whilst the previous session's sales had reached 199 million dollars, which was a figure close to the Bank's average sales since the beginning of the current year, following the impact of the Syrian events on Iraq and the transfer of the merchants to re-export for Syria, along with the impact of the recent economic sanctions against Iran.

The CBI's cash sales today had reached 6 million dollars, on an exchange rate of 1,179 dinars per dollar, along with the Bank's interest of 13 dinars per dollar, whilst the foreign transfers have recorded 62 millions and 33,000 dollars, also on an exchange rate of 1,179 dinars per dollar, along with the Bank's interest of 13 dinars per dollar.

The bulletin repeated its daily comment that the banks that attended its session, including the 13 banks that attended today's session have not offered a single dollar for sale in the auction.

The Central Bank of Iraq holds 5 weekly sessions for selling and purchase of foreign currencies, beginning on Sunday and ending on Thursday, charging 13 dinars per dollar for its cash sales, along with another 13 dinars for its foreign transfers.

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