Shafaq News / Foreign remittance sales soared today, supplanting cash transactions in the auction held on this day.

The central bank auctioned a total of 195,727,102 dollars in its buy-sell dollar auction today, with a base exchange rate of 1305 Iraqi dinars per dollar for documentary credits and international settlements for electronic cards. The exchange rate stood at 1310 Iraqi dinars per dollar for foreign remittances and 1310 Iraqi dinars per dollar for cash transactions.

Our correspondent added that the majority of dollar sales were directed towards bolstering foreign balances through remittances and documentary credits, amounting to 175,927,102 dollars. The remainder, totaling 19 million and 800 thousand dinars, was transacted in cash sales.

Our correspondent noted that a total of 7 banks procured cash dollars, whereas 20 banks fulfilled requests to reinforce foreign balances. The aggregate number of exchange companies and intermediaries participating in the auction stood at 52 firms.