CBI sales surpass $1 billion during the past week

Shafaq News / The Iraqi Central Bank's (CBI) total foreign currency sales during the past week surpassed one billion US dollars.

Our correspondent reported that CBI sold over four days of auction sessions, $1,259,432,212 with a daily average of $251,886,442, up from last week’s $783,749,822.

Wednesday recorded the highest dollar sales with $257,591,195, while the lowest sales were on Sunday, with $245,545,947.

Foreign remittance sales during the past week amounted to $1,186,593,292, a 94% increase compared to cash sales, which amounted to $73,838,920.

These sales were in the form of cash and remittances for financing foreign trade, with the selling rate for documentary credits and international settlements for electronic cards standing at 1,305 IQD per dollar. Meanwhile, the selling rate for remittance amounts abroad and cash sales stood at 1,310 IQD per dollar.