5-9-2014 Newshound Guru Kaperoni Article: "Decline
in central bank sales of dollar at the end of the auction week"
We will have to wait and see if they remain low. It makes no sense when
these banks are currently nothing more than money exchangers so commissions are
important to them. We can guess that the issuance of new dinar may have
curbed some desire to use dollars in the market. But the Iraqi economy
still needed dollars for imports. Why they are low is anyone's guess but
these auctions are important to maintain the exchange rate and...to reduce the
spread from Official Rate to Market Rate. If anything, I
was expecting the number of banks and money exchangers participating to
increase over the coming weeks - not decrease. [post 1 of 2....stay
tuned]
