Slight increase in central bank sales by about two million dollars

27-10-2011 | (Voice of Iraq) Sumerian News / Baghdad

Sales from Central Bank of Iraq at the conclusion of its sessions for the current week, on Thursday, slightly higher by about two million dollars to reach more than $ 176 million, compared to yesterday, which recorded a nearly $ 174 million.
The session saw today, a rise in sales of the bank for up to 176 000 302 thousand dollars had been covered by the bank at an exchange rate basis was 1170 dinars to the dollar, compared to last Thursday, as sales of the bank amounted to 174 million and 105 thousand dollars.
And the distribution of demand by seven million and 598 thousand dollars in cash, while distributed the rest of $ 168 million and 704 thousand dollars in the form of remittances external covered by the bank in full, the exchange rate was 1183 dinars per dollar, including transactions with the bank amounting to 13 dinars per dollar, while not advancing the participating banks in the auction of $ 23 banks in any offers to sell the dollar.
And founded the Iraqi Central Bank as an independent institution under the law issued on the sixth of March of 2004, as an independent body is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and management of foreign reserves and the issuance of currency management, as well as to regulate the banking sector to promote the system competitive financial and independent.
It is noteworthy that the CBI is being daily sessions for the sale and purchase of foreign currencies with the exception of public holidays which stops the bank from those auctions.