Decrease in foreign transfers at CBI’s auction

Shafaq News / The foreign exchange transfers in the Central Bank (CBI) auction decreased on Tuesday, reaching $181 million compared to yesterday, Monday.

According to Shafaq News Agency's correspondent, "CBI sold today, in its auction for buying and selling the US dollar, $208,207,203, covered by the bank at a basic exchange rate of 1,305 IQD per dollar for documentary credits and international settlements for electronic cards, and at a rate of 1,310 IQD per dollar for foreign transfers and in cash."

Our correspondent added, "Most of CBI's dollar sales went to bolster balances abroad in the form of transfers and credits, reaching $181,207,203, an increase of 85% compared to cash sales, which amounted to $27,100,000."

He also pointed out that eight banks purchased the cash dollars, while 13 banks fulfilled requests to enhance balances abroad. Furthermore, the total number of exchange and intermediary companies participating in the auction was 151.