JPmonopoly
02-01-2007, 11:03 AM
raq-Currency
A week of high demands for Dollar in Iraqi auction
By Dergham Mohammed Ali
Baghdad, Feb 1, (VOI) – The Iraqi central bank auction on Thursday ended a week of a relatively high demand for dollars with the exchange rate was almost stable in the daily auction that run on Sunday through Thursday.
The demand for dollar was slightly lower on Thursday, the last trading session this week, reaching $86.490 million compared to $92.165 million on Wednesday in Iraq’s central bank daily auction.
Sunday's session this week saw the biggest demand rise recorded in the four sessions held this week, for Tuesday was an off-day for the auction because of Aashura holiday in Iraq, as bids jumped $99.235 million.
In its daily statement on Thursday the bank said it covered all bids which were $28.540 million in cash and $57.950 million in foreign transfers at an exchange rate of 1,290 dinars per dollar, two ticks lower than Wednesday’s rate.
Sixteen banks participated in Thursday’s auction but none offered to sell dollars.
Economist Abdul-Razzaq Sadeq al-Abaiji told the independent news agency Voices of Iraq (VOI) the slight decline in the demand would not passively affect the central bank daily auction as this week's trading sessions witnessed the highest dealings in a week over months.
The economist who branded this week as "a week of high demands for dollar in the daily auction" blamed the decline in Thursday's demand for the unexpected drop in the exchange rate.
The exchange rate was stable at 1292 dinars per dollar from last Thursday but it was lower to 1290 in today's session.
Iraq-Currency :: Aswat al Iraq :: Aswat al Iraq (http://www.aswataliraq.info/modules.php?op=modload&name=News&file=article&sid=36368&mode=thread&order=0&thold=0)
A week of high demands for Dollar in Iraqi auction
By Dergham Mohammed Ali
Baghdad, Feb 1, (VOI) – The Iraqi central bank auction on Thursday ended a week of a relatively high demand for dollars with the exchange rate was almost stable in the daily auction that run on Sunday through Thursday.
The demand for dollar was slightly lower on Thursday, the last trading session this week, reaching $86.490 million compared to $92.165 million on Wednesday in Iraq’s central bank daily auction.
Sunday's session this week saw the biggest demand rise recorded in the four sessions held this week, for Tuesday was an off-day for the auction because of Aashura holiday in Iraq, as bids jumped $99.235 million.
In its daily statement on Thursday the bank said it covered all bids which were $28.540 million in cash and $57.950 million in foreign transfers at an exchange rate of 1,290 dinars per dollar, two ticks lower than Wednesday’s rate.
Sixteen banks participated in Thursday’s auction but none offered to sell dollars.
Economist Abdul-Razzaq Sadeq al-Abaiji told the independent news agency Voices of Iraq (VOI) the slight decline in the demand would not passively affect the central bank daily auction as this week's trading sessions witnessed the highest dealings in a week over months.
The economist who branded this week as "a week of high demands for dollar in the daily auction" blamed the decline in Thursday's demand for the unexpected drop in the exchange rate.
The exchange rate was stable at 1292 dinars per dollar from last Thursday but it was lower to 1290 in today's session.
Iraq-Currency :: Aswat al Iraq :: Aswat al Iraq (http://www.aswataliraq.info/modules.php?op=modload&name=News&file=article&sid=36368&mode=thread&order=0&thold=0)