CBI sales surge daily currency auction
Shafaq News / The percentage of foreign transfers increased significantly in the daily currency auction of the Central Bank of Iraq on Thursday, reaching a 90% surge in cash sales, totaling $189 million.
The Central Bank sold $210,430,551 in its auction for buying and selling the US dollar. The bank covered these transactions at an exchange rate of 1305 dinars per dollar for documentary credits and international settlements for electronic cards, Shafaq News agency's correspondent reported. Additionally, it set the rate at 1310 dinars per dollar for foreign transfers in cash.
Most of the bank's dollar sales aimed to bolster reserves abroad, primarily through transfers and credits, amounting to $189,499,551—a 90% increase from the cash sales of $20,931,000.
Our correspondent highlighted that six banks purchased cash dollars, while 17 banks fulfilled requests to reinforce foreign reserves. The total participation in the auction involved 64 exchange and intermediary companies.
