An official source in the Central Bank: The currency auction has been suspended for 5 days due to banks’ failure to buy
Baghdad today – Baghdad: An informed source said, today, that the auction to sell the currency at the Central Bank has been suspended for a week due to the failure of banks to submit their requests to buy the currency.
The source stated in an interview with (Baghdad Today), that “the auction of selling the currency has stopped since Wednesday 3/31/2021, due to the failure of banks to buy the currency from the auction, fearing that the budget will be approved in a timely manner and its impact on the exchange rate.”
He added, “The banks have enough reserves for trading for a number of days without buying from the auction selling the currency and a number of banks have submitted a request to buy the currency from the auction, but the auction will resume on next Sunday, that is, the beginning of the new week.”
On the other hand, a source in the Central Bank said, “A number of banks submitted their requests on Sunday and Monday to the Central Bank to buy the currency from the auction.”
He added in an interview with (Baghdad Today), that “the submission to obtain the currency from the auction takes place a week ago,” indicating that “the work returned naturally in the auction and the banks did not submit last week, due to speculation about returning the old exchange rate and approving the budget.”