CBI auction sees 88% surge in external transfers

Shafaq News / The Central Bank's (CBI) auction for buying and selling the US dollar witnessed a significant rise on Sunday, with transactions totaling $205,085,841.

The Bank covered these transactions at an exchange rate of 1,305 IQD per dollar for documentary credits and international settlements for electronic cards, and at a rate of 1,310 IQD per dollar for external transfers, as well as for cash transactions.

Our correspondent noted that the majority of the Bank's dollar sales were directed towards bolstering balances abroad in the form of transfers and credits, amounting to $183,865,841, marking an 88% increase compared to cash sales, which totaled $21,220,000.

Furthermore, four banks purchased cash dollars, while 22 banks fulfilled requests for enhancing balances abroad. The total participation of exchange and intermediary companies in the auction reached 73.