CBI auctions +$280 million in forex on Thursday

Shafaq News / The Iraqi Central Bank's (CBI) sales of the US dollar reached more than $280 million in the currency auction on Thursday.

According to the CBI's data, the Bank sold $280,678,794 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.

The majority of dollar sales were directed towards bolstering balances abroad in the form of transfers and credits, amounting to $265,878,794, representing a 95% increase compared to cash sales, which amounted to $14,800,000.

Three 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 26 companies.