CBI auctions +$600 mn during the past week

Shafaq News / The Central Bank of Iraq's (CBI) total sales of hard currency in US dollars during the past week surpassed 600 million dollars.

According to Shafaq News Agency’s correspındent, CBI sold a total of $674,021,096 during the past week over a three-day auction period. The daily average was $224,673,698, which decreased compared to the previous week's total of $883,860,097.

The highest dollar sales occurred on Sunday, reaching $221,898,486, while the lowest sales were on Thursday, totaling $209,994,098.

Foreign remittances during the past week amounted to $575,301,096, marking an 88% increase compared to cash sales totaling $71,720,000.

These sales, both cash and remittances for foreign trade financing, set the selling rate for documentary credits and international settlements for electronic cards at 1,305 IQD per dollar. Meanwhile, the selling rate for remittances abroad and cash sales stood at 1,310 IQD per dollar.