CBI auctions +$188 million on Thursday

Shafaq News / Foreign remittances at the Central Bank of Iraq (CBI) auction decreased on Thursday to reach $188 million.

Our correspondent reported that CBI sold in today’s auction for buying and selling the US dollar $217,488,077, covered by the bank 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 remittances in cash.

Most of the bank's dollar sales went to bolster balances abroad in the form of transfers and credits, amounting to $188,658,077, an increase of 85% from cash sales totaling $28,830,000.

Our correspondent pointed out that five banks purchased cash dollars, while 14 banks met requests to enhance balances abroad.

The total number of exchange and intermediary companies participating in the auction was 41 companies.