CBI sells +250$ million in forex on Monday


Shafaq News/ The Central Bank of Iraq (CBI) auctioned more than $250 million in foreign currency (forex) today, Monday.

Shafaq News Agency correspondent said that the CBI foreign currency sales in today's auction amounted to $259,506,263. The transactions were made at a weighted average of 1460 dinars to one dollar.

Our correspondent explained that 17 banks and 140 exchange companies cashed out $257.550 million. The remaining $201,956,263 went to boost funds in the form of credit and non-cash transactions, with 32 banks meeting those request.

Financial expert, Hilal al-Tahan, told Shafaq News agency that the reason behind the increase in CBI's sales is the bank's aim to provide every pilgrim up to 3000 US dollars.

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