CBI sold +3$ billion in forex in May

Shafaq News/ The Central Bank of Iraq (CBI) auctioned more than $3 billion in foreign currency (forex) in May.

Shafaq News Agency correspondent said that the CBI foreign currency sales in 17 auctions last month amounted to $3,449,042,000, at an average of $202,984,966 per auction.

The transactions were made at a weighted average of 1460 dinars to one dollar.

Our correspondent said that credit and non-cash transactions funding international trade trumped by a margin the amount cashed out for local use.