CBI auctions +$250M in forex on Tuesday

Shafaq News/ On Tuesday, the Central Bank of Iraq's (CBI) dollar sales exceeded $250 million in its currency auction.

According to an official statement by the bank, CBI sold $253,928,810 in its auction today, covered at an exchange rate of 1,310 IQD per dollar for documentary credits and international settlements for electronic cards, 1,310 IQD per dollar for foreign transfers, and 1,305 IQD per dollar for cash transactions.

The majority of the dollar sales were directed toward bolstering balances abroad in the form of transfers and credits, amounting to $248,528,810—representing 98% of the total sales—compared to $5,400,000 in cash sales.

Notably, only one bank purchased cash dollars, while 14 banks handled requests to strengthen balances abroad. Additionally, nine exchange companies participated in the auction.