CBI sales surge by 228% in today’s currency auction

Shafaq News / Cash sales at the Iraqi Central Bank's currency auction experienced a remarkable increase of 228% compared to Monday.

Shafaq News Agency’s correspondent reported that CBI sold a total of $196,599,621 in its auction today, backed by a base exchange rate of 1305 Iraqi dinars for each US dollar for documentary credits and international settlements for electronic cards. The same rate was applied for external transfers. The correspondent also stated that most of the dollar sales were aimed at bolstering foreign balances in the form of transfers and documentary credits, amounting to $127,587,621.

Cash sales reached $71,013, exhibiting a substantial surge of 228% in comparison to Monday's figures, which stood at $21,650.

The correspondent further indicated that 9 banks purchased cash dollars, while 16 banks fulfilled requests for foreign balance reinforcement. The total count of participating exchange and intermediary companies in the auction amounted to 120 companies.