CBI auctions +$285 million on Wednesday

CBI auctions +$285 million on Wednesday
2024-12-04T12:04:25+00:00

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

According to an official statement by the Bank, the CBI sold $287,893,366 during today's auction.

The Bank covered these transactions at a base exchange rate of 1,310 IQD per dollar for documentary credits, international settlements of electronic cards, and foreign transfers, while the rate stood at 1,305 IQD per dollar for cash transactions.

Most dollar sales were directed towards bolstering balances abroad in the form of transfers and credits, amounting to $277,693,366, representing a 96% increase compared to cash sales, which amounted to $10,200,000.

Two Bank purchased cash dollars, while 6 fulfilled requests to bolster balances abroad.

The total number of exchange and brokerage companies participating in the auction was 16 companies.

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