CBI confirms provision of five foreign currencies alternative to the dollar for traders

Shafaq News / The Iraqi Central Bank (CBI) affirmed on Saturday that it has provided five alternative currencies to the dollar for traders to use in purchasing goods from abroad, using each country's currency through the bank.

CBI’s Deputy Governor Ammar Hamad told Shafaq News Agency that "CBI has made other foreign currencies available for Iraqi traders, including the euro, the Chinese yuan, the Turkish lira, the Emirati dirham, and the Indian rupee."

He added that "these currencies are now available to traders, aiming to facilitate foreign trade. When a trader imports goods from China, for instance, they can pay in Iraqi dinars to the Iraqi bank, which will then settle the amount with the Chinese company or factory in Chinese currency."

CBI’s total sales of hard currency, mainly the US dollar, amounted to over one billion dollars, last week.

Our correspondent mentioned that CBI sold, during the past week, and over a period of five days when the auction was open, a total of $1,052,796,086, with a daily average of $210,559,217, which is lower than the previous week's total of $1,062,587,198.