CBI reports +$800 mn in weekly hard currency sales

Shafaq News / The Iraqi Central Bank's (CBI) total sales of hard currency, mainly in US dollars, reached over $800 million during the past week.

According to Shafaq News Agency’s correspondent, CBI sold $883,860,097 over a four-day period during the auction held last week. The daily average sales were $220,965,024, significantly lower compared to the previous week's total of $1,048,170,594.

Furthermore, Wednesday recorded the highest sales at $222,559,204, while Thursday marked the lowest at $219,157,334.

Our correspondent pointed out that foreign remittance sales during the past week amounted to $801,030,097, indicating a 90% increase compared to cash sales, which totaled $82,830,000.

These sales were comprised of both cash and remittances for external trade financing. The selling rate for documentary credits and international settlements for electronic cards was 1305 IQD per dollar, while the selling rate for remittances abroad and cash selling was 1310 IQD per dollar.