CBI auctions +$280 M in forex on Wednesday
Shafaq News/ On Wednesday, the sales of external remittances in the Central Bank of Iraq's (CBI) auction surged by 96% compared to cash sales, reaching over $268 million.
According to CBI's data, the bank sold today $280,775,565 in its currency auction. The sales were covered at an exchange rate of 1,310 IQD per dollar for documentary credits, international settlements via electronic cards, and external remittances. Cash sales were covered at a rate of 1,305 IQD per dollar.
The majority of the dollar sales were allocated to bolster balances abroad in the form of transfers and credits, amounting to $268,125,565, a 96% increase over the cash sales, which totaled $12,650,000.
Notably, only one bank purchased cash dollars, while 15 banks fulfilled requests for boost balances abroad. Additionally, 16 exchange companies participated in the auction.
