The weekly rate of the central bank sales of the dollar drops 32%, and next week it may drop 40%

The weekly rate of the central bank sales of the dollar drops 32%, and next week it may drop 40%

2022-11-05

The weekly rate of the central bank sales of the dollar drops 32 percent and next week it may drop 40 percentYes Iraq: Baghdad
For the first time in months, the central bank’s weekly sales did not exceed 800 million dollars, after the central bank’s sales of hard currency touched an average of 1.2 billion dollars per week, which means that the central bank’s weekly sales of dollars fell by 32%, while it is hoped that The decrease over the next week will be about 40%.

According to the data of the Central Bank, it sold during the past week for the five days in which the auction was opened, and from Sunday to Thursday, 792 million and 415 thousand and 787 dollars, at a daily rate of 158 million and 483 thousand and 157 dollars.

According to that, the average daily sales was about 158 ​​million dollars per day, while it was recording more than 200 million dollars per day during the past months.

And the central bank recorded during the week preceding last week sales of more than one billion and 150 million dollars.

And the actual decline began since the beginning of November, i.e. last Tuesday, when daily sales began to record only 120 million dollars, which means that the decrease amounted to 40%, which will be recorded during the next week, as sales next week are expected to not exceed 600 million dollars. , down 25% from last week and about 45% in the preceding week.

The real decrease, which amounts to about 50 million dollars per day, appears from the decrease in cash sales only, as foreign remittances sales for the purpose of import are still stable at 150 million dollars per day, while cash sales decreased from 50 to less than 10 million dollars per day.

Perhaps this decline is due to the lack of demand for the dollar as a result of citizens’ fears of a possible drop in the dollar’s price, amid the continuation of parliamentary statements calling for a decrease in the exchange rate.

yesiraq.com