CBI auctions +$260 million in forex on Tuesday
Shafaq News/ The Iraqi Central Bank's (CBI) sales of the USdollar surpassed $262 million in the currency auction on Wednesday.
According to an official statement by the Bank, the CBI sold$262,061,774 during today's auction.
The Bank covered these transactions at a base exchange rateof 1,310 IQD per dollar for documentary credits, international settlements ofelectronic cards, and foreign transfers, while the rate stood at 1,305 IQD perdollar for cash transactions.
Most dollar sales were directed towards bolstering balancesabroad in the form of transfers and credits, amounting to $255,261,774,representing a 97% increase compared to cash sales, which amounted to $6,800,000.
One Bank purchased cash dollars, while 13 fulfilled requeststo bolster balances abroad.
The total number of exchange and brokerage companiesparticipating in the auction was 9 companies.
