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Central Bank's sales close the week with a big rise

rocky
rocky
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Central Bank's sales close the week with a big rise Empty Central Bank's sales close the week with a big rise

Post by rocky on Thu 07 Jan 2021, 8:17 am

Central Bank's sales close the week with a big rise

 2021-01-07 
  
Shafq News/ The Central Bank of Iraq's hard currency sales rose at the close of sales this week on Thursday.

After the central bank raised the dollar exchange rate, sales fell to 8 million dollars in the last auction session held by the central bank, which reached more than 200 million dollars.

According to the correspondent of The Twilight News Agency, the Central Bank of Iraq witnessed during its auction to buy and sell foreign currencies today increased sales by 287.5% to reach 23 million and 450 thousand dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to last Monday, where sales reached 8 million and 135 thousand dollars.

He added that the request was distributed by 23 million dollars 350,000 dollars to strengthen the balances abroad in the form of remittances and credits, while cash sales amounted to 100,000 dollars.

Our correspondent pointed out that 10 banks met requests to strengthen assets abroad, while one bank made cash purchases.

Earlier in the day, mp Jamal Cougar, a member of the parliamentary finance committee, said that the previous sales of the central bank through its daily auction were not real, they covered more than the need of the market, pointing out that the goal of traders and banks who were buying dollars through this auction is profit and that these profits decreased, which affected the bank's sales.

"The proliferation of speculation in the markets was a second reason for the low sales of the central bank, as the savings of the citizens have not yet fully ended," he said, adding that "the end and return of savings to their previous places, people will accept the new government rate."
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