CBI sold +$727 million in forex last week

Shafaq News/ The Central Bank of Iraq (CBI) auctioned more than $883 million in foreign currency (forex) last week.

Shafaq News Agency correspondent said that the CBI forex sales in the past five sessions amounted to $883,708,462 at a daily average of $176,741,692, 21.5% below the week before ($145,461,509).

"Tuesday registered the highest sales with $223,406,794, while Thursday sales were the lowest with $128,823,508," our correspondent said.

The credit transactions were made at an average of 1,305 dinars to one dollar, while foreign remittances and cash transactions were made at a rate of 1,310 dinars to one dollar.

Our correspondent explained that most sales boosted assets abroad via credit and non-cash transactions.