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.