CBI records 85% surge in foreign transfers at auction

Shafaq News / The Iraqi Central Bank reported an 85% increase in foreign transfers during its auction held today, Tuesday. The transactions, conducted for the sale and purchase of US dollars, amounted to $199,063,829, covered by an exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards. The same rate applied for cash transfers.

According to Shafaq News Agency's correspondent, the majority of the bank's dollar sales were directed towards bolstering international balances in the form of transfers and credits, totaling $172,523,829. This figure marked an 85% surge compared to the cash sales, which amounted to $26,540,000.

Our correspondent noted that ten banks participated in the auction for purchasing cash dollars, while twenty banks met the demands for enhancing international balances abroad. Additionally, a total of 115 exchange and brokerage companies participated in the auction.