CBI sells over $200 Million in auction

Shafaq News / The Central Bank of Iraq reported sales exceeding $200 million in its auction on Sunday.

According to a correspondent from Shafaq News Agency, the Central Bank sold $217,717,136 at a base exchange rate of 1,305 Iraqi dinars per dollar for documentary credits, international settlements for electronic cards, and $1,310 Iraqi dinars per dollar for external remittances. The remaining cash transactions were carried out at an exchange rate of $1,310 Iraqi dinars per dollar.

Our correspondent added that the majority of the dollar sales were directed towards bolstering foreign reserves through remittances and credits, totaling $197,757,136. The remaining $19,960,000 was sold in cash transactions.

It is noteworthy that 12 banks purchased cash dollars, while 26 banks fulfilled requests to enhance foreign reserves. Additionally, a total of 43 exchange and intermediary companies participated in the auction.