CBI auctions +$280 million in forex on Thursday

Shafaq News / The Iraqi Central Bank's (CBI) sales of the US dollar reached more than $280 million in the currency auction on Thursday.

According to the CBI's data, the Bank sold today $280,872,080 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 $255,092,080, representing a 90% increase compared to cash sales, which amounted to $25,780,000.

Four banks purchased cash dollars, while 12 fulfilled requests to bolster balances abroad.

The total number of exchange and brokerage companies participating in the auction was 33 companies.