CBI reports 91% surge in external transfers
Shafaq News / The external transfers in the Iraqi Central Bank's (CBI) auction surged by 91% on Wednesday, accounting for cash sales, reaching $201 million.
As reported by our correspondent, CBI sold $220,561,970 during its auction for buying and selling the US dollar. The bank covered these transactions at a basic exchange rate of 1,305 IQD per dollar for documentary credits and international settlements for electronic cards. For external transfers, the rate was set at 1,310 IQD per dollar, and for cash transactions, it stood at 1,310 IQD per dollar.
Our correspondent added that the majority of the bank's dollar sales were directed towards reinforcing balances abroad through transfers and credits, amounting to $201,651,970. This marked a substantial 91% increase compared to the cash sales, which amounted to $18,910,000.
Furthermore, eight banks purchased cash dollars, while 22 banks met requests for reinforcing balances abroad. The total number of participating exchange and intermediary companies in the auction was 118.
