CBI reports significant increase in dollar sales at auction

Shafaq News / The Central Bank of Iraq has reported a significant increase in dollar sales at its auction on Tuesday, reaching around $300 million.

According to a correspondent of Shafaq News agency, "The Central Bank sold today during its auction for buying and selling the US dollar, $283,045,994, an increase of 122% compared to yesterday, and covered by the bank at an exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, at an exchange rate of 1,310 dinars per dollar for external transfers and in cash transactions."

Our correspondent added that most of the dollar sales were used to strengthen foreign balances in the form of transfers and credits, amounting to $224,145,994 dollars, while the remaining $58.9 million were in cash sales.

It was reported that 13 banks purchased cash dollars, while 23 banks met the requests for foreign balance support, with a total of 206 exchange and brokerage companies participating in the auction.