CBI reports a 90% surge in foreign transfers

Shafaq News / The foreign transfers at the Central Bank's (CBI) auction soared by 90% today, Sunday, reaching $198 million in cash sales.

According to Shafaq News Agency’s correspondent, CBI sold $219,957,731 in its auction today. The bank covered it at an exchange rate of 1,305 IQD for each dollar for documentary credits and international settlements for electronic cards, and at a rate of 1,310 IQD for each dollar for foreign transfers.

A significant portion of the bank's dollar sales was directed towards bolstering balances abroad in the form of transfers and credits, amounting to $198,137,731, marking a remarkable 90% increase compared to the cash sales totaling $21,820,000.

Furthermore, six banks purchased cash dollars, while nineteen banks fulfilled requests to finance balances abroad. The total participation in the auction involved 46 currency exchange and intermediary companies.