CBI auctions +$275 million in forex on Sunday

Shafaq News / The Iraqi Central Bank's (CBI) sales of the US dollar surpassed $275 million in the currency auction on Sunday.

According to the CBI's data, the Bank sold today $275,781,250 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 $255,431,251, representing a 92% increase compared to cash sales, which amounted to $20,350,000.

Two Banks purchased cash dollars, while 15 fulfilled requests to bolster balances abroad.

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