A decrease in cash sales from the dollar and an increase in remittances in the auction of the Central Bank of Iraq

[yota691]

 

A decrease in cash sales from the dollar and an increase in remittances in the auction of the Central Bank of Iraq

 

 2022-09-22 07:46

 

Shafaq News/ Cash sales of the dollar decreased in the Central Bank auction, today, Thursday, while foreign remittances increased.

Shafak News Agency correspondent stated, "The Central Bank sold today, during its auction to buy and sell US dollars, 229 million and 689 thousand and 255 US dollars, which were covered by the bank at a base exchange rate of 1460 dinars per dollar.

Our correspondent added that the cash purchase of dollars by banks decreased from the value of total sales to reach 25 million and 350 thousand, while the rest of the amount of 204 million and 339 thousand and 255 dollars went to enhance balances abroad in the form of remittances and credits.

Our correspondent indicated that 32 banks have met requests to enhance balances abroad, and 12 banks have responded to cash requests, in addition to 78 mediation companies.

[Donziman]

I read this to say, professional investors don't want the Dollar because a change in rate is coming. Not a good sign..