CBI auction witnesses 82% surge
Shafaq News / Foreign exchange transactions at the Iraqi Central Bank's auction saw an impressive 82% increase, reaching a total of $180 million on Wednesday.
Shafaq News Agency's correspondent reported that the Central Bank sold a total of $213,828,961 during its auction for buying and selling the US dollar. These transactions were covered at the base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards. The rate was set at 1,310 dinars per dollar for external remittances and for cash transactions.
The majority of the bank's dollar sales were allocated to bolstering foreign balances in the form of remittances and credits, amounting to $180,988,961. This figure marked an 82% increase compared to cash sales, which stood at $32,840,000.
Our correspondent noted that seven banks participated in purchasing cash dollars, while 20 banks met requests for enhancing foreign balances. The total number of exchange companies and intermediaries participating in the auction was 72.
