CBI auctions +$1 billion in forex on Saturday

Shafaq News / The total sales of the Iraqi Central Bank (CBI) of the US dollar in the currency auction during the past week exceeded one billion dollars.

According to an official statement by the Bank, CBI sold during the past week $1,354,297,009, with a daily average of $193,471,000, higher than the previous week’s $533,978,265.

The highest sales were recorded on Sunday, reaching $283,160,003, while the lowest sales were on Wednesday, reaching $261,374,070.

Foreign exchange sales during the past week amounted to $1,263,772,000 with an increase of 94% compared to cash sales, which amounted to $90,525,000.

The sales were in the form of cash and transfers abroad to finance foreign trade. The bank covered these sales at an exchange rate of 1,305 IQD for documentary credits and international settlements for electronic cards, and a rate of 1,310 IQD for transfers abroad and cash transactions.