Cash sales dip to $15 million in CBI auction

Shafaq News / Cash sales decreased in Sunday's auction held by the Central Bank of Iraq (CBI), with transactions falling to $15 million.

Shafaq News agency correspondent reported that CBI achieved total sales of $212,387,010 during its auction for buying and selling US dollars.

The bank executed these transactions at an exchange rate of 1,305 dinars per dollar for documentary credits and international settlements of electronic cards, and a rate of 1,310 dinars for external transfers and cash transactions.

A substantial portion of the dollar sales, totaling $196,417,010, was allocated to fortify overseas balances through transfers and credits.

Notably, the remainder, amounting to $15,980,000, saw a significant decrease from the previous Thursday, which registered cash sales of $53,280,000.

Our correspondent highlighted that eight banks purchased cash dollars in this auction, while 18 banks responded to requests for bolstering overseas balances. Moreover, the auction saw participation from 58 exchange and mediation companies.