CBI auction records slight increase with $198 million in sales

Shafaq News/ The Central Bank of Iraq's auction for buying and selling US dollars on Thursday witnessed a minor growth, with sales reaching $198 million.

According to a Shafaq News Agency correspondent, the Central Bank's auction resulted in the sale of $198,800,354. This marked a slight uptick from the previous day's sales, which amounted to $197,404,001.

The bank executed transactions at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards. The exchange rate was also 1310 dinars per dollar for foreign transfers and cash.

Most dollar sales were allocated to reinforcing overseas balances in the form of remittances and credits, totaling $166,760,354. Cash sales amounted to $32,400,000.

The auction saw participation from nine banks purchasing cash dollars, while 22 banks responded to requests for bolstering overseas balances. A total of 96 exchange and mediation companies took part in the auction.