CBI auctions +$1 billion in Forex during past week

Shafaq News / The Iraqi Central Bank (CBI) reported total sales of hard currency, particularly in US dollars, exceeding one billion dollars during the auction held last week.

According to an official statement by the Bank, CBI sold a total of $1,348,235,509 last week, with a daily average of $276,847,019.

The highest dollar sales were recorded on Wednesday of last week, reaching $282,624,465, while the lowest sales were on Sunday, amounting to $270,897,422.

Foreign remittance sales during the past week amounted to $1,317,475,000, marking a 95% increase compared to cash sales, which amounted to $66,760,000.

Furthermore, the sales were in the form of cash and remittances for financing foreign trade. 

The bank covered these transactions at a base exchange rate of 1,305 IQD for documentary credits and international settlements for electronic cards, and 1,310 IQD for foreign remittances and cash sales.