Shafaq News/ The Iraqi Central Bank's (CBI) sales of the US dollar surpassed $298 million in the currency auction on Monday.
According to an official statement by the Bank, the CBI sold ??$298,344,336 during today's auction.
The Bank covered these transactions at a base exchange rate of 1,310 IQD per dollar for documentary credits, international settlements of electronic cards, and foreign transfers, while the rate stood at 1,305 IQD per dollar for cash transactions.
Most dollar sales were directed towards bolstering balances abroad through transfers and credits, amounting to $270,694,336, representing 90% of the total amount, compared to cash sales, which amounted to $27,650,000.
Notably, only one bank purchased cash dollars; seven fulfilled requests to bolster balances abroad.
The total number of exchange and brokerage companies participating in the auction was 31 companies.