The Central Bank’s sales have decreased by 40% since November.. One expectation may explain the reason
The Central Bank’s sales have decreased by 40% since November.. One expectation may explain the reason
2022-11-03
Yes Iraq: Baghdad
During the first days of this November, the Central Bank of Iraq sold 536 million dollars within 4 days, at a time when these amounts were equivalent to sales of only two days during the past months, which means a decrease in the percentage of central bank sales of hard currency between 40-50% since the beginning of October This November.
And the window for selling hard currency to the Central Bank showed that 151.8 million dollars were sold on Tuesday 1/11 this month, 120 million dollars on Wednesday 2/11 this month, and 128.7 million dollars on Thursday 3/11, while 135.5 million dollars were sold during an auction today. Next Sunday 6/11, according to the data of the auction on Sunday, which was conducted today, Thursday.
The total sales of the four days amounted to about 536 million dollars, which amounts were made within two or three days in the past months, which means that the Central Bank’s sales have decreased by nearly 40% since the beginning of this month.
The data show that the decrease came due to the decrease in sales of cash demand by about 80%, which can be explained by the fact that the decrease in central bank sales came due to the weak demand for the dollar by citizens, especially with fears that the price of the dollar could change in the coming days. As for foreign remittance sales for the purpose of import, they did not. change or be affected a lot.
yesiraq.com
