CBI auctions +$268 million in forex on Tuesday

Shafaq News / The Iraqi Central Bank's (CBI) sales of the US dollar surpassed $268 million in the currency auction on Tuesday.

According to Shafaq News correspondent, the Bank sold today $268,576,164 in its auction.

These sales were covered at a basic exchange rate of 1,310 IQD per dollar for documentary credits and international settlements for electronic cards and external transfers and at a rate of 1,305 IQD per dollar for cash transactions.

The majority of dollar sales were directed towards bolstering balances abroad in the form of transfers and credits, amounting to $238,606,164, representing an 88% increase compared to cash sales, which amounted to $29,970,000.

5 Banks purchased cash dollars, while 15 fulfilled requests to bolster balances abroad.

The total number of exchange and brokerage companies participating in the auction was 190 companies.