CBI auctions +$260 in forex on Tuesday
Shafaq News/On Tuesday, the Iraqi Central Bank's (CBI) dollar sales surpassed $260 millionin its currency auction, marking an decrease compared to Monday.
According toan official statement by the bank, CBI sold $260,999,304 today. The sales werecovered at an exchange rate of 1,310 IQD per dollar for documentary credits andinternational settlements for electronic cards, and 1,310 IQD per dollar forforeign transfers, while the cash sale rate was 1,305 IQD per dollar.
The majorityof dollar sales were directed towards strengthening foreign balances in theform of transfers and credits, which amounted to $257,249,304—an increase of 99%compared to cash sales, which totaled $3,750,000.
One bank purchasedcash dollars, while 14 banks met requests for enhancing foreign balances.Additionally, four exchange companies participated in the auction.
