The Hard Currency Auction Sale : 74th session

The 74th session of the hard currency auction sale was held on November 5th, at the Central Bank with the participation of all the commercial banks.

Contrary to a bid of USD 2,000,000 during the two last weeks, the bid of this morning was USD 1,000,000 split into 20 shares of USD 50.000 each.

In spite of a bottom that dropped down during the 3 last weeks up to USD = BIF 1.046 on the 5th, the rates proposed by the banks remained high, between USD = BIF 1.070 and USD = BIF 1.072,9998,bringing up a medium rate of USD = BIF 1.072,7747.

The demand of the banks remains high, i.e USD 6.900.000, of which only 14% was released

IBB-News /5 November 2002
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