CBI reports 80% surge in foreign transfers in auction
Shafaq News / The Central Bank of Iraq witnessed a significant surge in foreign transfers during its auction on Thursday, with a remarkable 80% increase in cash sales, reaching a total of $167 million.
According to Shafaq News Agency’s correspondent, the Central Bank conducted an auction for buying and selling US dollars, where it sold a total of $198,623,942, with the bank covering this amount at an exchange rate of 1,305 Iraqi dinars per dollar for documentary credits and international settlements for electronic cards. The exchange rate was set at 1,310 Iraqi dinars per dollar for foreign transfers and cash transactions.
The correspondent highlighted that the majority of the bank's dollar sales went towards bolstering external balances through transfers and credits, which reached $165,197,942, marking an impressive 80% increase compared to the $33,425,000 in cash sales.
It was further noted that eight banks purchased cash dollars, while 18 banks fulfilled their requests for enhancing their foreign balances. In total, 79 exchange and intermediary companies participated in the auction.
