CBI records +$3.5 Bn in forex during last month

Shafaq News / The Iraqi Central Bank's (CBI) sales from the hard currency auction for the USD in August reached over 3.5 billion dollars.

According to Shafaq News Agency’s correspondent, during the past month, CBI sold a total of $3,749,706,378 in the days it conducted its auction for buying and selling the USD, with an average rate of $197,352,967. This marked an 8% decrease compared to the preceding month, which was $213,816,528, and a 25% decrease compared to the same period last year in 2022.

He added that foreign transfer sales during the past month amounted to $3,111,974,378, indicating a significant increase of 79% compared to cash sales, which amounted to $637,732,000.

Our correspondent also noted that these sales were distributed between transfers abroad to bolster foreign trade and cash sales to banks. The selling price for documentary credits and international settlements for electronic cards stood at 1,305 IQD per dollar, while the selling price for transfers abroad and cash sales was 1,310 IQD per dollar.