CBI's Hard Currency Sales Surpass $1 Billion in Weekly Auctions

Shafaq News/ The Central Bank of Iraq (CBI) has announced robust hard currency sales, exceeding one billion US dollars during the past week's currency auctions.

Over five days, the CBI achieved total sales of 1,113,427,782 dollars, with a daily average of 222,685,556 dollars. This performance reflects a 0.2% increase compared to the previous week's sales, which amounted to 222,445,585 dollars.

Sunday witnessed the highest demand for dollars, with sales reaching 231,347,002 dollars. On the other hand, Thursday recorded the lowest sales at 210,884,357 dollars.

An intriguing highlight is the significant contribution of foreign remittances to the overall sales, accounting for 813,291,189 dollars. This staggering figure represents an 85% surge compared to cash sales, which amounted to 118,300,000 dollars.

These currency sales primarily aimed to finance foreign trade, with transactions occurring in remittances abroad.

Regarding exchange rates, the selling price of documentary credits and international settlements for electronic cards was set at 1305 dinars per dollar. Meanwhile, the selling price of remittances abroad and the cash sale price amounted to 1310 dinars per dollar.