Surge in foreign transfers in CBI Auction

Shafaq News / Foreign transfers in the Central Bank auction surged by 93% on Sunday, reaching $211 million in cash sales.

Shafaq News Agency's correspondent reported that CBI sold today in its auction for buying and selling the US dollar $225,287,025, covered by an exchange rate of 1305 Iraqi dinars per dollar for documentary credits and international settlements for electronic cards. The rate was 1310 Iraqi dinars per dollar for foreign transfers and also for cash transactions.

Our correspondent added that the majority of the bank's dollar sales went towards bolstering balances abroad, in the form of transfers and credits, totaling $211,227,025, marking a 93% increase from the $14,060,000 cash sales.

He highlighted that five banks purchased cash dollars, while 11 banks met requests for enhancing balances abroad. The total number of participating exchange and intermediary companies in the auction amounted to 49 companies.