CBI auctions +$296 million on Monday

Shafaq News/ The Central Bank of Iraq’s (CBI) sales of the US dollar recorded +$296 million in the currency auction on Monday.

According to an official statement by the Bank, the CBI sold $296,151,962 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 $274,701,962, representing 92.3% compared to cash sales, which amounted to $21,450,000.

One bank purchased cash dollars, while 14 fulfilled requests to bolster balances abroad.

The total number of exchange companies participating in the auction was 28 companies.