CBI sales dip to $36 million on Thursday

Shafaq News / The Central Bank of Iraq’s (CBI) currency auction sales dipped today, Thursday, with remittances outweighing cash sales by a huge margin.

According to a correspondent from Shafaq News Agency, the CBI sold a total of $210,405,522 during today's auction. The bank covered these transactions at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements of electronic cards, while the rate stood at 1,310 dinars per dollar for foreign transfers and cash transactions.

Our correspondent added that the majority of dollar sales were used to bolster foreign balances in the form of transfers and documentary credits, totaling $174,125,522. The remaining $36,280,000 were in the form of low-value cash sales, lower than yesterday's figures of $47,230,000.

Cash deals were made by nine banks, while 11 banks met the requests relevant to foreign balances. A total of 103 exchange and brokerage companies took part in the auction.