Stop Fundamentalism, March 14 – Iraqi Dinar closed just above 1277 Dinars per Dollar today at IraqÃ¢â‚¬â„¢s Central Bank Auction. This is 11 Dinars higher than last weekÃ¢â‚¬â„¢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 IraqÃ¢â‚¬â„¢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 IraqÃ¢â‚¬â„¢s Central Bank through its network of 15 participating Banks throughout Iraq.
Daily auctions by the IraqÃ¢â‚¬â„¢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.