CBI auctions +$1bn over the past week

Shafaq News / The total sales of hard currency by the Central Bank of Iraq (CBI) during the past week amounted to more than one billion US dollars.

According to Shafaq News Agency’s correspondent, CBI sold during the past week, for a period of five days when the auction was open, $1,010,484,084 at a daily average of $202,096,816. This represents a 3% increase from the previous week when sales reached $197,677,718.

The highest dollar sales were recorded on Monday, reaching $219,107,561, while the lowest sales were on Wednesday, amounting to $197,154,228.

Our correspondent also noted that foreign exchange sales during the past week amounted to $951,728,800, with an increase of 83.91% compared to cash sales, which amounted to $153,116,000.

It was explained that the sales were made in the form of cash and transfers abroad to finance foreign trade. The selling rate for documentary credits and international settlements for electronic cards was 1,305 IQD per dollar, while the selling rate for transfers abroad and cash sales was 1,310 IQD per dollar.