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The bank's cash sales of the dollar increased amid expectations of a future decline
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2022-12-12 04:53
Shafaq News/ The Central Bank's dollar cash sales increased, on Monday, to reach about 50 million dollars in today's auction, with the participation of 30 banks.
Shafaq News agency reporter stated, "The Central Bank sold today, during its auction for buying and selling the US dollar, 134 million and 98 thousand and 495 dollars, which the bank covered at a basic exchange rate of 1460 dinars per dollar.
Our correspondent added that sales were distributed between remittances and external credits, which amounted to 84,398,495 dollars, while cash sales rose to 49,700 dollars.
Our correspondent indicated that 16 banks have met requests to consolidate balances abroad, and 14 banks have met cash requests, in addition to 116 mediation companies.
The financial expert, Hilal Al-Taan, predicted, in an interview with Shafaq News agency, "a decline in the dollar's price against the Iraqi dinar, with the increase in cash sales in the bank's auction at the expense of foreign transfers."
He added, "The bank began to increase the shares of banks and exchange companies from the dollar that it announced in advance, which will lead to an increase in the supply of the dollar and to a decrease in the price of the dollar against the Iraqi dinar."
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
2022-12-12 04:53
Shafaq News/ The Central Bank's dollar cash sales increased, on Monday, to reach about 50 million dollars in today's auction, with the participation of 30 banks.
Shafaq News agency reporter stated, "The Central Bank sold today, during its auction for buying and selling the US dollar, 134 million and 98 thousand and 495 dollars, which the bank covered at a basic exchange rate of 1460 dinars per dollar.
Our correspondent added that sales were distributed between remittances and external credits, which amounted to 84,398,495 dollars, while cash sales rose to 49,700 dollars.
Our correspondent indicated that 16 banks have met requests to consolidate balances abroad, and 14 banks have met cash requests, in addition to 116 mediation companies.
The financial expert, Hilal Al-Taan, predicted, in an interview with Shafaq News agency, "a decline in the dollar's price against the Iraqi dinar, with the increase in cash sales in the bank's auction at the expense of foreign transfers."
He added, "The bank began to increase the shares of banks and exchange companies from the dollar that it announced in advance, which will lead to an increase in the supply of the dollar and to a decrease in the price of the dollar against the Iraqi dinar."
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