Hard Currency Auction: Session n°72

The 72nd session of the Hard currency auction sale took place on Wednesday 23rd, october 2002 at the Central Bank with the attendance of seven commercial banks.

It's worth noting that the amount to be auctioned was US $ 2,000,000 which couldn't be purchased at the 71st session help on October 22nd , last week button rate BIF 1065 was put up to 1,073 which totally surprised the banks and none of the bid was accepted .

Todays's session was closed on a refence rate of USD = BIF 1073.9242 versus a bottom rate of USD=BIF 1,068.

The banks'demand was USD 8,000,000 with rates put up between USD = BIF 1,073 and and USD = BIF 1,073.9999.

Let's recall that the overall bid of USD 2,000,000 makes a great difference with 4 consecutive weeks of a USD 500,000 bid and would be a consequence of the IMF first lot of a post conflict loan of USD 25,000,000 to Burundi.

IBB-News /23 October 2002
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