CBI sales drop below $200 million in auction

Shafaq News / Sales by the Central Bank of Iraq plummeted to less than $200 million in today's Tuesday auction.

Shafaq News Agency's correspondent reported that CBI sold a total of $183,890,982, covered by an exchange rate of 1,305 Iraqi dinars per dollar for documentary credits and international settlements for electronic cards, and at a rate of 1,310 Iraqi dinars per dollar for external transfers and cash transactions.

He added that a majority of the dollar sales were directed towards bolstering foreign balances in the form of transfers and credits, amounting to $153,220,982. The remaining $30,670,000 were made in cash sales.

Furthermore, our correspondent noted that 9 banks purchased cash dollars, while 17 banks fulfilled requests for enhancing foreign balances. The total count of participating exchange and intermediary companies in the auction was 96.