CBI sales reach over $200 million in auction

Shafaq News / The Iraqi Central Bank's sales in today's Tuesday auction exceeded $200 million.

According to Shafaq News Agency’s correspondent, the Central Bank sold a total of 212,537,504 dollars in its auction for the buying and selling of the US dollar.

The bank covered these transactions at an exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, and at a rate of 1,310 dinars per dollar for external transfers. The same rate was applied for cash transactions.

Our correspondent added that the majority of sales in dollars were directed towards bolstering foreign reserves through transfers and credits, amounting to 180,677,504 dollars. The remaining portion, totaling 31,860,000 dollars, was sold in cash.

Furthermore, our correspondent noted that 14 banks purchased cash dollars, while 18 banks fulfilled requests for enhancing foreign reserves. The total number of participating exchange and intermediary companies in the auction reached 125.