CBI auctions +$270 million in forex on Tuesday

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

According to the CBI's data, the Bank sold $271,718,376 in its auction today.

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.

Most dollar sales were directed towards bolstering balances abroad in the form of transfers and credits, amounting to $241,798,376, representing an 88% increase compared to cash sales, which amounted to $29,920,000.

Six banks purchased cash dollars, while 4 fulfilled requests to bolster balances abroad.

The total number of exchange and brokerage companies participating in the auction was 191 companies.