Iraq's CBI Sells Over $220 Million in Auction on Tuesday

Shafaq News/ On Tuesday, the Central Bank of Iraq (CBI) conducted its auction for buying and selling US dollars, with sales reaching a total of 221,080,248 dollars.

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

According to Shafaq News agency reporter, most dollar sales, amounting to 186,220,248 dollars, were directed towards bolstering balances abroad through remittances and credits. The remaining 34,860,000 dollars were used for cash sales.

Nine banks participated in purchasing cash dollars, and 18 banks responded to requests for strengthening balances abroad. Additionally, 85 exchange and mediation companies also participated in the auction.