CBI’s outward remittances drop to 215$ million

Shafaq News/ On Wednesday, the Central Bank of Iraq (CBI) auctioned about 215 million dollars in outward remittances and cash sales.

The Central Bank of Iraq’s total sales amounted to $215,494,808, covering transactions at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements and a rate of 1310 for external transfers and cash sales.

On Tuesday, CBI’s sales surpassed 219 million dollars.

Most of the dollar sales were allocated to bolstering balances abroad.

Outward remittances reached $205,284,808, while the cash sales amounted to $10,210,000.

Six banks engaged in purchasing cash dollars, while 15 banks responded to requests to enhance balances abroad.

The overall participation included 88 exchange and brokerage companies in the auction.