Shafaq News / Foreign remittances at the Iraqi Central Bank's auction surged by 81%, reaching $195 million, overshadowing cash sales.

Shafaq News Agency's correspondent reported that the Central Bank sold a total of $233,689,796 during its auction for buying and selling US dollars. The Bank covered these transactions at a basic exchange rate of 1305 Iraqi dinars per dollar for documentary credits and international settlements for electronic cards. Additionally, the rate was 1310 Iraqi dinars per dollar for foreign remittances and cash transactions.

Our correspondent added that the majority of the Bank's dollar sales were directed towards reinforcing reserves abroad in the form of remittances and credits, totaling $195,939,796. This figure represented an 81% increase compared to cash sales, which amounted to $37,750,000.

Furthermore, nine banks purchased cash dollars, while 19 banks met the requests for enhancing reserves abroad. In total, 132 exchange companies and intermediaries participated in the auction.