CBI auctions +$296M in forex on Thursday
Shafaq News/ The Iraqi Central Bank's (CBI) sales of the US dollar surpassed $296 million in the currency auction on Thursday.
According to an official statement by the bank, CBI sold a total of $296,009,007 during today’s auction.
The Bank covered these transactions at a base exchange rate of 1,310 IQD per dollar for documentary credits, international settlements of electronic cards, and foreign transfers, while the rate stood at 1,305 IQD per dollar for cash transactions.
Most dollar sales were directed towards bolstering balances abroad in the form of transfers and credits, amounting to $273,659,007, representing 91.94% of the total sales, compared to cash sales, which amounted to $22,350,000.
Notably, only one bank purchased the cash dollars, while six banks fulfilled requests to enhance balances abroad. A total of 24 exchange companies participated in the auction.
