CBI auctions +$285M in forex on Tuesday
Shafaq News/ The Iraqi Central Bank's (CBI) salesof the US dollar surpassed $285 million in the currency auction on Tuesday.
According to an official statement by the Bank,the CBI sold $285,468,819 during today's auction.
The Bank covered these transactions at a baseexchange rate of 1,310 IQD per dollar for documentary credits, internationalsettlements of electronic cards, and foreign transfers, while the rate stood at1,305 IQD per dollar for cash transactions.
Most dollar sales were directed towardsbolstering balances abroad in the form of transfers and credits, amounting to$273,168,819, representing a 95% increase compared to cash sales, whichamounted to $12,300,000.
Two Banks purchased cash dollars, while 14fulfilled requests to bolster balances abroad.
The total number of exchange and brokeragecompanies participating in the auction was 11 companies.
