CBI auctions +$277 million on Wednesday

Shafaq News / The Central Bank of Iraq's (CBI) sales rose on Wednesday to more than $277 million.

Our correspondent reported that CBI sold today $277,573,581, covered at an exchange rate of 1,305 IQD per dollar for documentary credits and international settlements for electronic cards, and at a rate of 1,310 IQD per dollar for external transfers, both for documentary credits and in cash.

Most of the dollar sales were directed towards bolstering balances abroad in the form of transfers and credits, amounting to $255,583,581, representing a 95% increase compared to cash sales, which amounted to $12,990,000.

Moreover, six banks purchased cash dollars, while 17 banks fulfilled requests to bolster balances abroad. 

The total number of exchange and intermediary companies participating in the auction was 86 companies.