Shafaq News/ On Sunday, the Central Bank of Iraq (CBI) reported a significant rise in foreign transfer sales during its auction, with transactions reaching over $277 million, a 97% increase compared to cash sales.
According to an official statement by the bank, CBI sold a total of $286.77 million, setting the exchange rate at 1,310 IQD per dollar for both international card settlements and foreign transfers, and 1,305 IQD per dollar for cash transactions.
Most of the dollar sales, totaling $277.77 million, were allocated to bolster foreign reserves through transfers and letters of credit, marking a 97% increase over the cash sales figure of $9 million.
The auction saw limited cash dollar purchases, with only one bank participating. In contrast, 16 banks handled foreign balance transfers, while 12 exchange companies took part in the auction.