CBI’s outward remittances surge to 198$ million

Shafaq News/ On Wednesday, the Central Bank of Iraq (CBI) auctioned about 209 million dollars in outward remittances and cash sales.

The Central Bank of Iraq’s total sales amounted to $209,540,027, 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.

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

Outward remittances reached $198,270,027, while the cash sales amounted to $11,270,000.

Six banks engaged in purchasing cash dollars, while 14 banks responded to requests to enhance balances abroad.

The overall participation included 38 exchange and brokerage companies in the auction.