Shafaq News / Foreign exchanges at the Central Bank of Iraq's auction saw a remarkable 86% increase, reaching $199 million in cash sales.

According to Shafaq News Agency’s correspondent, CBI sold a total of $227,447,755 during its auction for buying and selling the U.S. dollar. The bank covered these transactions at the exchange rate of 1,305 dinars per dollar for documentary credits, international settlements for electronic cards, and at the rate of 1,310 dinars per dollar for foreign transfers, all at cash basis.

Our correspondent added that most of the bank's sales in dollars were aimed at bolstering balances abroad in the form of transfers and credits, totaling $199,757,755, marking an 86% increase compared to cash sales, which amounted to $27,690,000.

It was noted that four banks purchased cash dollars, while 22 banks fulfilled requests to enhance foreign balances. The total number of exchange and intermediary companies participating in the auction was 48.