CBI auctions +$257 million in forex on Monday
Shafaq News/The Iraqi Central Bank's (CBI) sales of the US dollar surpassed $257 million inthe currency auction on Monday.
According toan official statement by the Bank, the CBI sold $257,533,656 during today'sauction.
The Bankcovered these transactions at a base exchange rate of 1,310 IQD per dollar fordocumentary credits, international settlements of electronic cards, and foreigntransfers, while the rate stood at 1,305 IQD per dollar for cash transactions.
Most dollarsales were directed towards bolstering balances abroad in the form of transfersand credits, amounting to $222,633,656, representing an 84% increase comparedto cash sales, which amounted to $34,900,000.
One Bankpurchased cash dollars, while 13 fulfilled requests to bolster balances abroad.
The totalnumber of exchange and brokerage companies participating in the auction was 16companies.
