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Central pumping the dollar to reduce the price and sells 281 million in auction
ID number: 2427 Issue Date: 25/12/2011 Day: Sunday
Last Updated: 12/25/2011
BAGHDAD - Follow-up:
Sales from the Iraqi Central Bank to conclude its weekly rise of up to $ 281 million in the auction for the sale and purchase of foreign currencies, a high figure for the previous session, $ 32 million, while stressing the central continue to pump cash into the local market to bring the exchange rate to a normal level after rise in the domestic market.
The bulletin issued by the Central Bank that the total volume of demand on the dollar stood at 281 million and 197 thousand dollars, covered by the central bank at an exchange rate basis was 1170 dinars to the dollar. "
And sales exceeded the central bank this week quarter million dollars a day on average, after the exchange rates of the U.S. dollar last week, a high figure for the average needs of the Iraqi market, the dollar per day between 150-170 million dollars.
The exchange rate rose early this week to reach a price of 1225 dinars to the dollar and 1235 dinars per dollar, after it was between 1190 and 1200 dinars per dollar during the past few months, slipping today to 1214 dinars per dollar, according to banking offices in Baghdad .
Specialists, which attributed to the influence of citizen concern about the U.S. withdrawal, which resulted in savings in foreign currency in case of any emergency security, while the Iraqi Central Bank commented on the high exchange rate, saying that "price bubble" resulting from an internal cause of concern is the citizen of the retreat of the security situation because of the security situation and the political transformation of the Iraqi trader and broker to re-export of goods due to regional conditions and thereby increasing demand and high price of the dollar.
But at the same time the Central said that the exchange rate will not be back soon, because of the ability of the Central Bank to pump large amounts of foreign exchange to the domestic market thanks to the large cash reserve it has enjoyed, which was confirmed in a conference. And distributed auction sales on the "cash sales amount of three million and 500 thousand dollars at the exchange rate was 1183 dinars per dollar," inclusive "commission the Central Bank amounting to 13 dinars per dollar," while sales orders, "the amount of 277 million and 697 thousand dollars at the exchange rate was 1183 dinars per dollar, "inclusive" commission of the Central Bank amounting to 13 dinars per dollar, "and showed the bulletin that" did not make any of the banks, the 24 participating in the auction with offers to sell the dollar. and hold the Iraqi Central Bank auction of five meetings a week starting from Sunday to Thursday for the sale and purchase foreign currencies, and receive a cash commission on the sale of about 13 dinars per dollar, and receive a commission of 13 dinars per dollar on the sale of remittances outside the country.
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ID number: 2427 Issue Date: 25/12/2011 Day: Sunday
Last Updated: 12/25/2011
BAGHDAD - Follow-up:
Sales from the Iraqi Central Bank to conclude its weekly rise of up to $ 281 million in the auction for the sale and purchase of foreign currencies, a high figure for the previous session, $ 32 million, while stressing the central continue to pump cash into the local market to bring the exchange rate to a normal level after rise in the domestic market.
The bulletin issued by the Central Bank that the total volume of demand on the dollar stood at 281 million and 197 thousand dollars, covered by the central bank at an exchange rate basis was 1170 dinars to the dollar. "
And sales exceeded the central bank this week quarter million dollars a day on average, after the exchange rates of the U.S. dollar last week, a high figure for the average needs of the Iraqi market, the dollar per day between 150-170 million dollars.
The exchange rate rose early this week to reach a price of 1225 dinars to the dollar and 1235 dinars per dollar, after it was between 1190 and 1200 dinars per dollar during the past few months, slipping today to 1214 dinars per dollar, according to banking offices in Baghdad .
Specialists, which attributed to the influence of citizen concern about the U.S. withdrawal, which resulted in savings in foreign currency in case of any emergency security, while the Iraqi Central Bank commented on the high exchange rate, saying that "price bubble" resulting from an internal cause of concern is the citizen of the retreat of the security situation because of the security situation and the political transformation of the Iraqi trader and broker to re-export of goods due to regional conditions and thereby increasing demand and high price of the dollar.
But at the same time the Central said that the exchange rate will not be back soon, because of the ability of the Central Bank to pump large amounts of foreign exchange to the domestic market thanks to the large cash reserve it has enjoyed, which was confirmed in a conference. And distributed auction sales on the "cash sales amount of three million and 500 thousand dollars at the exchange rate was 1183 dinars per dollar," inclusive "commission the Central Bank amounting to 13 dinars per dollar," while sales orders, "the amount of 277 million and 697 thousand dollars at the exchange rate was 1183 dinars per dollar, "inclusive" commission of the Central Bank amounting to 13 dinars per dollar, "and showed the bulletin that" did not make any of the banks, the 24 participating in the auction with offers to sell the dollar. and hold the Iraqi Central Bank auction of five meetings a week starting from Sunday to Thursday for the sale and purchase foreign currencies, and receive a cash commission on the sale of about 13 dinars per dollar, and receive a commission of 13 dinars per dollar on the sale of remittances outside the country.
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