CBI auctions +$275 million in forex on Thursday

Shafaq News / The Iraqi Central Bank's (CBI) sales of the US dollar surpassed $275 million in the currency auction on Thursday.

According to the CBI's data, the Bank sold today $272,066,650 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 $253,556,650, representing a 92% increase compared to cash sales, which amounted to $21,510,000.

Four banks purchased cash dollars, while 14 fulfilled requests to bolster balances abroad.

The total number of exchange and brokerage companies participating in the auction was 95 companies.