CBI auctions +$299 million in forex on Tuesday
Shafaq News/ The Iraqi CentralBank's (CBI) sales of the US dollar surpassed $299 million in the currencyauction on Tuesday.
According to an official statementby the Bank, the CBI sold $299,165,962 during today's auction.
The Bank covered these transactionsat a base exchange rate of 1,310 IQD per dollar for documentary credits,international settlements of electronic cards, and foreign transfers, while therate stood at 1,305 IQD per dollar for cash transactions.
Most dollar sales were directedtowards bolstering balances abroad in the form of transfers and credits,amounting to $282,365,952, representing a 94% increase compared to cash sales,which amounted to $16,800,000.
One Bank purchased cash dollars,while 13 fulfilled requests to bolster balances abroad.
The total number of exchange andbrokerage companies participating in the auction was 11 companies.
