CBI sales surge by 96% in auction

Shafaq News / In today's central bank auction, foreign exchange reserves witnessed a remarkable 96% increase, totaling $187 million in cash sales.

Shafaq News Agency reported that the central bank sold $194,933,215 during its auction for buying and selling the US dollar. The central bank covered these transactions at the base rate of 1,305 Iraqi dinars per dollar for documentary credits, international settlements for electronic cards, and 1,310 Iraqi dinars per dollar for external remittances and in cash.

Most of the bank's sales in dollars were directed towards enhancing balances abroad, in the form of remittances and credits, which amounted to $187,983,215, marking a significant 96% increase compared to cash sales, which amounted to $6,950,000.

Our correspondent noted that four banks purchased cash dollars, while a total of 20 banks fulfilled requests to bolster their balances abroad. Furthermore, 38 exchange and intermediary companies participated in the auction.