CBI’s sales surpass the $200 mn threshold

Shafaq News / The Central Bank of Iraq's (CBI) currency auction sales reached over $213 million on Wednesday.

According to our correspondent, CBI sold during its auction for buying and selling the US dollar a total of $213,533,518 covered by an exchange rate of 1305 IQD per dollar for documentary credits and international settlements for electronic cards. For external transfers and cash transactions, the rate was 1310 IQD per dollar.

Most of the bank's dollar sales went towards financing balances abroad in the form of transfers and credits, amounting to $202,143,518, representing a 94% increase over cash sales, which amounted to $11,390,000.

Furthermore, six banks purchased cash dollars, while 15 banks met requests for bolstering balances abroad.

The total number of participating exchange and brokerage companies in the auction was 105.