CBI records 90% increase in foreign transfers
Shafaq News / The foreign exchange rates increased significantly in the Central Bank of Iraq (CBI) auction on Sunday by 90%, reaching $200 million in cash sales.
According to Shafaq News Agency’s correspondent, CBI sold today during its auction for buying and selling US dollars, a total of $221,898,486, covered by the bank at a basic exchange rate of 1305 IQD per dollar for documentary credits and international settlements for electronic cards, and at a rate of 1310 IQD per dollar for foreign remittances, and 1310 IQD per dollar for cash.
Our correspondent added that most of CBI's USD sales were directed towards bolstering balances abroad in the form of transfers and documentary credits, reaching a total of $200,898,486, a 90% increase from the cash sales, which amounted to $21 million.
It is noteworthy that five banks bought cash dollars, while twenty banks met the requirements to reinforce balances abroad. Moreover, the total number of exchange and brokerage companies participating in the auction was 43 companies.
