CBI sold +5$ billion in forex in August

Shafaq News/ The Central Bank of Iraq (CBI) auctioned more than $5 billion in foreign currency (forex) in August.

Shafaq News Agency correspondent said that the CBI foreign currency sales in 17 auctions last month amounted to $5,291,439,535, at an average of $263,554,261 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 huge margin the amount cashed out for local use.