Shafaq News / Foreign remittances at the Central Bank's (CBI) auction increased by 95% on Wednesday, reaching $187 million in cash sales.

According to Shafaq News Agency’s correspondent, CBI sold today, during its auction for buying and selling US dollars, a total of $196,613,962, covered by the bank at an exchange rate of 1,305 IQD per dollar for documentary credits, international settlements for electronic cards, and at a rate of 1,310 IQD per dollar for foreign remittances, as well as for cash at the same rate of 1,310 IQD.

Our correspondent added that most of CBI's sales of dollars were used to bolster balances abroad in the form of remittances and credits, reaching $187,243,962, which is a 95% increase compared to the cash sales of $9,370,000.

Furthermore, our correspondent noted that seven banks purchased cash dollars, while 16 banks met the requests to enhance foreign balances. The total number of exchange and intermediary companies participating in the auction was 82.