CBI reports +$800 mn in weekly hard currency sales


The Iraqi Central Bank’s (CBI) total sales of hard currency, mainly in US dollars, reached over $800 million during the past week.

During last week’s auction, the CBI sold a total of $883,860,097 over a 4-day period. The average daily sales were $220,965,024, which is lower than the previous week.

On Wednesday, the sales amounted to $222,559,204, while on Thursday, they were $219,157,334.

During the past week, foreign remittance sales amounted to $801,030,097, which is a 90% increase compared to cash sales that totaled $82,830,000.

The sales included both cash and remittances for external trade financing. The selling rate for documentary credits and international settlements for electronic cards was 1305 IQD per dollar, while the selling rate for remittances abroad and cash selling was 1310 IQD per dollar.