CBI sells +$193 million in forex on Monday

Shafaq News / The Iraqi Central Bank auction saw a rise in foreign remittances on Monday, reaching 193 million dollars, up from Sunday.

Shafaq News Agency's correspondent said that the Central Bank sold $208,386,184 million dollars today at its auction, at a basic exchange rate of 1305 dinars per dollar. This rate applied to documentary credits, international settlements, and foreign remittances, while the cash rate was 1310 dinars per dollar.

The correspondent added that most of the dollar sales $193,796,184 million dollars went to increase balances abroad as remittances and credits, a 92% increase from the cash sales of $14, 590,000 million dollars.

He pointed out that only two banks bought the cash dollar, while 17 banks boosted their balances abroad. The total number of exchange and intermediary companies participating in the auction was 34 companies.