CBI auctions +$270 million in forex on Wednesday

Shafaq News / The Iraqi Central Bank's (CBI) sales of the US dollar reached more than $270 million in the currency auction on Wednesday.

According to the CBI's data, the Bank sold today $272,478,467 in its auction.

These sales were covered at a basic exchange rate of 1,310 IQD per dollar for documentary credits and international settlements for electronic cards and external transfers and at a rate of 1,305 IQD per dollar for cash transactions.

The majority of dollar sales were directed towards bolstering balances abroad in the form of transfers and credits, amounting to $249,648,467, representing a 91% increase compared to cash sales, which amounted to $22,830,000.

Four banks purchased cash dollars, while 12 fulfilled requests to bolster balances abroad.

The total number of exchange and brokerage companies participating in the auction was 68 companies.