CBI auctions $283 million in forex on Sunday

Shafaq News / Sales at the Central Bank of Iraq (CBI) increased, on Sunday, reaching over $283 million.

Our correspondent reported that CBI sold during its auction for buying and selling the US dollar, $283,160,003, covered by the bank at an exchange rate of 1,305 IQD per dollar for documentary credits and international settlements for electronic cards, and at a rate of 1,310 IQD per dollar for external transfers and cash transactions.

Most of the bank’s dollar sales went to bolster balances abroad in the form of transfers and credits, amounting to $259,115,003, an increase of 91% compared to cash sales totaling $24,045,000.

Moreover, two banks bought cash dollars, while the number of banks that met requests to enhance balances abroad reached 14 banks, with a total of eight exchange companies and intermediaries participating in the auction.