View Full Version : High local exchange rate to coincide with the holiday

11-28-2009, 06:45 AM
High local exchange rate to coincide with the holiday
Saturday, November 28, 2009

Sales fell by the central bank of dollar in auction during the week slightly to 626 million compared to $ 642 million last week, which traders attributed to the power demand to meet the needs of the Iraqi family to the requirements of the feast.
Sales of the central bank auction of foreign currencies during the current week 626 million and 134 thousand dollars at the exchange rate stable basis for the week of 44 straight was 1170 dinars to the dollar, through the holding of five sessions of an auction, it recorded a slight decrease from last week, which amounted to sales of the Central 642 million and 927 thousand dollars at an exchange rate basis of 1170 dinars per dollar.

Sales have cash this week to increase considerably to reach 11 million and 105 thousand dollars, for three million and 605 thousand dollars last week, the exchange rate was 1183 dinars per dollar commission inclusive of the Central Bank of $ 13 dinars to the dollar.
A decline in foreign remittances to reach 615 million and 29 thousand dollars, compared with 639 million and 322 thousand dollars last week, the exchange rate reached 1173 dinars to the dollar commission inclusive of the central bank's three dinars per dollar.

The Banking Department official says Gulf Bank struggle Muhsin told (Voices of Iraq), that this week saw the strength of demand for the dollar for the needs of the Iraqi family needs of Eid al-Adha, noting that "exchange rate rose slightly amounted to 500 dinars per cent rate of up to $ 118 , 5 thousand dinars per dollar.

He improved that there is another reason for the rise in interest rates, a low volume of remittances returning from abroad due to routine procedure that you need that money to enter Iraq caused little difference between supply and demand, "expected to" continue to rise next week due to suspension Auction Central Bank holiday period official holiday.

Saturday, November 28, 2009

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11-28-2009, 07:10 AM
If I understand this correctly, there may not be an auction Sunday because of Eid?

11-28-2009, 08:01 AM
ok does this mean they are trying to get reduce the amount of american dollars in the country? sounds like no auction till after holiday.

11-28-2009, 08:21 AM
SKYES Thank you for all the info. you bring to us.

11-28-2009, 08:50 AM
with an rv there could be a lot of new currency in the country...and with no auction a perfect time to put it into place.

11-28-2009, 05:24 PM
THanks MOI ........

11-28-2009, 07:12 PM
Thank you Sykes for your continuous flow of good info and news articles. You help keep me and many more informed.

11-28-2009, 07:13 PM
Thanks MOI!

11-28-2009, 07:17 PM
....good find....thanks...sykes....

11-29-2009, 07:03 AM
Could this be why I can't reach CBI's web site? I get a bandwidth exceeded error; every timw I tried this morning.

11-29-2009, 07:04 AM
Could this be why I can't reach CBI's web site? I get a bandwidth exceeded error; every time I tried this morning.