CBI sold nearly $700 million in forex last week

Shafaq News/ The Central Bank of Iraq (CBI) auctioned nearly 400 million dollars in foreign currency (forex) last week.

Shafaq News Agency correspondent said that the CBI forex sales in the past five sessions amounted to $728,785,580 at a daily average of $182,196,395, 115.89% above the week before.

"Sunday registered the highest sales with $305,406,095, while Tuesday sales were the lowest with $94,950,560," our correspondent said.

The transactions were made at an average rate of 1460 dinars to one dollar in the first three days and at 1310 starting Wednesday.

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