CBI auctions +$270 million in forex on Monday

Shafaq News / The Iraqi Central Bank's (CBI) sales of the US dollar surpassed $270 million in the currency auction on Monday.

According to the CBI's data, the Bank sold today $270,086,148 in its auction.

These sales were covered at a basic exchange rate of 1,310 IQD per dollar for documentary credits and international settlements for electronic cards and external transfers and at a rate of 1,305 IQD per dollar for cash transactions.

The majority of dollar sales were directed towards bolstering balances abroad in the form of transfers and credits, amounting to $257,921,148, representing a 95% increase compared to cash sales, which amounted to $12,165,000.

One Bank purchased cash dollars, while 16 fulfilled requests to bolster balances abroad.

The total number of exchange and brokerage companies participating in the auction was ten companies.