Significant increase in foreign transfers at CBI auction

Shafaq News / Foreign transfers at the Iraqi Central Bank auction witnessed an impressive surge, reaching a 86% increase compared to cash sales, totaling $197 million.

According to Shafaq News Agency's correspondent, the Central Bank conducted an auction for buying and selling the US dollar, where it sold $225,801,357. The bank covered these transactions at an exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards. The same rate was applied for foreign transfers and cash transactions, which was 1,310 dinars per dollar.

Our correspondent noted that the majority of the bank's sales in dollars were directed towards enhancing foreign balances in the form of transfers and credits, amounting to $197,651,357, marking an 86% increase compared to cash sales, which amounted to $28,150,000.

Furthermore, our correspondent highlighted that 8 banks purchased cash dollars, while 18 banks fulfilled requests for enhancing foreign balances. The total number of participating exchange and intermediary companies in the auction reached 97.