CBI auctions +$260 in forex on Tuesday

Shafaq News/ On Tuesday, the Iraqi Central Bank's (CBI) dollar sales surpassed $260 million in its currency auction, marking an decrease compared to Monday.

According to an official statement by the bank, CBI sold $260,999,304 today. The sales were covered at an exchange rate of 1,310 IQD per dollar for documentary credits and international settlements for electronic cards, and 1,310 IQD per dollar for foreign transfers, while the cash sale rate was 1,305 IQD per dollar.

The majority of dollar sales were directed towards strengthening foreign balances in the form of transfers and credits, which amounted to $257,249,304—an increase of 99% compared to cash sales, which totaled $3,750,000.

One bank purchased cash dollars, while 14 banks met requests for enhancing foreign balances. Additionally, four exchange companies participated in the auction.