CBI auctions +$271 million in forex on Monday

Shafaq News / The Iraqi Central Bank's (CBI) sales of the US dollar reached more than $271 million in the currency auction on Monday.

According to the CBI's data, the Bank sold today $271,212,870 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 $276,147,870, representing a 98% increase compared to cash sales, which amounted to $4,935,000.

Three banks purchased cash dollars, while 14 fulfilled requests to bolster balances abroad. 

The total number of exchange and brokerage companies participating in the auction was 28 companies.