Shafaq News/ The Central Bank of Iraq's (CBI) sales of US dollars in itsforeign currency auctions exceeded $60 billion in 2024, a significant increasecompared to the previous year.
According to the CBI’s data, the CBI's currency auctions show totalsales of $60,154,755,191 during 2024. This marks a 47% increase from 2023,which recorded total sales of $40,925,383,937.
The average monthly sales in 2024 were approximately $5,012,383,000.
Breakdown of Sales:
-Foreign Transfers for Trade Finance: Amounted to $58,691,005,191,allocated to fund international trade.
-Cash Sales to Banks: Reached $1,463,750,000.
The Bank covered the transactions at a base exchange rate of 1,310 IQDper dollar for documentary credits, international settlements of electroniccards, and foreign transfers, while the rate is 1,305 IQD per dollar for cashtransactions.