CBI to boost interbank forex by injecting funds

CBI to boost interbank forex by injecting funds

Shafaq News/ The Central Bank of Iraq (CBI) decided to boost fund injections for interbank foreign exchange markets.

A CBI document seen by Shafaq News Agency said that it will bolster forex sales to banks, banking companies, and foreign currency exchange companies to meet the demands upon foreign currency, attain the objectives of the monetary policy, and maintain the stability of exchange rates.

The document stipulated:

 banks' share $200,000

Class A banking companies' share $1,500,000

Class B banking companies' share $500,000

Class C banking companies' share $50,000

In the same context, CBI sales of hard currency hiked today, Wednesday. 

Shafaq News Agency correspondent reported that CBI sales at the Foreign Exchange Auctions registered settled at 199,916,000 dollars, compared to 187,290,000 dollars on  Tuesday. The weighted average rate of the dinar to the U.S. dollar amounted to 1460.

Our correspondent explained that 13,050,000 dollars of the purchases were cashed by 16 banks, while 186,005,698 dollars went to boost funds abroad in the form of transfers and credits, with 25 banks meeting those requests.

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