Shafaq News/ The Central Bank of Iraq (CBI) sold more than $279 million in its currency auction on Monday.

According to an official statement by the Bank, CBI sold $279,811,934 at an exchange rate of 1,310 IQD per dollar for documentary credits and international settlements of electronic cards and foreign transfers, and 1,305 IQD per dollar in cash.

The majority of the dollar sales, amounting to $266,511,934, were allocated to bolster foreign balances in the form of transfers and credits, representing 95% of total sales. Cash sales accounted for $13,300,000.

One bank purchased cash dollars, while 16 banks fulfilled requests for boosting foreign balances.

Additionally, 13 exchange and brokerage companies participated in the auction.