CBI auctions +$249M in forex on Tuesday
Shafaq News/ The Central Bank of Iraq (CBI) sold more than $249 million in its currency auction on Tuesday.
According to an official statement by the bank, CBI sold a total of $249,194,089, covered at an exchange rate of 1,310 IQD per US dollar for documentary credits and international settlements for electronic cards. The same rate of 1,310 IQD applied to foreign transfers, while a rate of 1,305 IQD per dollar was used for cash transactions.
The majority of the sales were allocated to strengthening foreign balances in the form of transfers and credits, amounting to $231,544,089, accounting for 92% of the total sales. Cash sales totaled $17,650,000.
Notably, only one bank purchased dollars in cash, while 13 banks processed requests to bolster foreign balances. Additionally, 29 exchange companies participated in the auction.
