CBI’s sales surpass the $200 mn threshold

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CBI’s sales surpass the $200 mn threshold

On Wednesday, sales in the Central Bank of Iraq’s (CBI) currency auction exceeded $213 million.

Our reporter reports that CBI sold $213,533,518 during its auction for purchasing and selling US dollars, with the exchange rate for documentary credits and foreign settlements for electronic cards being fixed at 1305 IQD per dollar. The exchange rate for cash transactions and external transfers was 1310 IQD per USD.

The majority of the bank’s dollar sales, $202,143,518 in total, were used to finance balances abroad through credits and transfers; this is a 94% increase above cash sales of $11,390,000.

In addition, fifteen banks fulfilled requests for foreign balance boosting, and six banks bought dollars in cash.

There were 105 exchange and brokerage firms that took part in the auction overall.