CBI auctions +$251M in forex on Thursday

Shafaq News/ On Thursday, foreign transfer sales at the Central Bank of Iraq's (CBI) auction surged by 95% compared to cash sales, reaching over $251 million.

According to an official statement by the bank, CBI sold a total of $263,031,872 in its auction today, covered at an exchange rate of 1,310 IQD per dollar for documentary credits and international settlements for electronic cards, 1,310 IQD per dollar for foreign transfers, and 1,305 IQDper dollar for cash transactions.

Most of the sales, amounting to $251,165,852, were made to strengthen foreign balances in the form of transfers and credits, representing a 95% increase compared to cash sales, which amounted to $11,866,020.

Notably, two banks purchased the cash dollars, while 16 banks met requests to enhance foreign balances. Additionally, 10 currency exchange companies participated in the auction.