CBI auctions +$275 million in forex on Thursday

Shafaq News/ The Central Bank of Iraq (CBI) sold more than $275 million in its currency auction on Thursday.

According to an official statement by the Bank, CBI sold $275,998,667 at an exchange rate of 1,310 IQD per dollar for documentary credits, international settlements of electronic cards, and foreign transfers. The cash sale rate was 1,305 IQD per dollar.

Most of the dollar sales, amounting to $250,418,667, or 90% of the total, were made to bolster foreign balances through transfers and credits. Cash sales totaled $25,580,000.

Six banks purchased cash dollars, while another six banks met requests to enhance foreign balances. A total of 111 exchange and brokerage companies participated in the auction.