Shafaq News / Foreign exchange transactions in the Iraqi Central Bank (CBI) auction rose by 91% on Monday, reaching $212 million in cash sales.

According to Shafaq News Agency’s correspondent, CBI sold a total of $230,744,244 in its auction for buying and selling US dollars. The bank covered these transactions at an exchange rate of 1,305 IQD per dollar for documentary credits and international settlements for electronic cards. It was also at a rate of 1,310 IQD per dollar for external transfers and cash transactions.

Our correspondent added that the majority of the bank's dollar sales went to bolster balances abroad in the form of transfers and credits, amounting to $212,084,444. This represents a 91% increase compared to cash sales, which amounted to $18,695,800.

He pointed out that four banks purchased cash dollars, while 18 banks fulfilled requests to enhance balances abroad. The total number of exchange and brokerage companies participating in the auction was 50 companies.