CBI auctions about $280 million during the past week

Shafaq News / The total sales of the Iraqi Central Bank (CBI) in hard currency of the US dollar exceeded $278 billion during the past week, with most of it transferred abroad.

Our correspondent reported that CBI sold $278,525,332, with foreign exchange sales amounting to $238,120,332, 96% more than the cash sales, which reached $6,710,000."

Furthermore, six banks purchased cash dollars, while 13 banks fulfilled requests to enhance balances abroad. 

The total number of participating exchange and intermediary companies in the auction was 202.

The sales were made in cash and transferred abroad to finance foreign trade, with the selling price of documentary credits and international settlements for electronic cards at 1,305 IQD per dollar. Meanwhile, the selling price for transfers abroad and cash sales was 1,310 IQD per dollar.