CBI sells +$162 million in currency auction

Shafaq News / The foreign exchange transactions at the Central Bank (CBI) auction rose significantly today, Thursday, with an increase of 81% in cash sales, reaching a total of $162 million.

According to Shafaq News Agency’s correspondent,CBI sold a total of $193,082,499 in its auction for buying and selling US dollars. The bank covered these transactions at a base exchange rate of 1305 IQD per dollar for documentary credits and international settlements for electronic cards. For foreign remittances and cash transactions, the rate was 1310 IQD per dollar.

Our correspondent added that most of CBI's dollar sales went towards boosting foreign balances in the form of remittances and credits, totaling $162,862,499, which represents an 81.44% increase compared to the $30,220,000 in cash sales.

Furthermore, our correspondent noted that nine banks purchased cash dollars, while 18 banks met requests to enhance foreign balances. The total number of exchange and brokerage companies participating in the auction was 142 companies.