CBI sells over $200 million in currency auction

Shafaq News / The Central Bank of Iraq announced on Tuesday that its sales in the currency auction exceeded $200 million.

Shafaq News Agency's correspondent reported that the Central Bank sold today, in its auction for buying and selling the US dollar, a total of $201,395,261. The bank covered this amount at the exchange rate of 1,305 Iraqi dinars per dollar for documentary credits and international settlements for electronic cards, and at the rate of 1,310 Iraqi dinars per dollar for external transfers and in cash.

Most of the sales were allocated to bolster foreign balances in the form of transfers and credits, amounting to $137,225,261, while cash sales reached $64,100,000.

The correspondent noted that ten banks purchased the physical dollars, while 17 banks met the requests to bolster foreign balances. A total of 145 exchange and intermediary companies participated in the auction.