Stop Fundamentalism, March 14 – Iraqi Dinar closed just above 1277 Dinars per Dollar today at Iraq’s Central Bank Auction. This is 11 Dinars higher than last week’s auction prices.
The exchange rate of the Iraqi dinar has risen significantly at the expense of the dollar at the daily auction of treasury transfers, says a source at the Iraq’s Central Bank.
Since the introduction of new Iraqi Dinar, this currency has demonstrated a great potential in gaining value against Dollar. Reports indicate a high volume of trade at Iraq’s Central Bank through its network of 15 participating Banks throughout Iraq.
Daily auctions by the Iraq’s Central Bank are part of a policy to maintain stability of Iraqi Dinar exchange rate and prevent its uneven prices compared to other currencies, as well as reducing the inflation.
