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Central Bank of Iraq Auctions $100,281,900 on 07 May 2018

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Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on May 7 registered $100,281,900 in sales, a -31.30% volume decline from the US $145,980,618 sold by Iraqi Dinar, credit and transfer at the previous auction held on May 6.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on May 7 compared to the previous auction.

Data for the May 7 auction was made public by CBI Announcement Number 3693.

Dollar sales in the in the period January 1, 2018 to May 7, 2018 saw an increase of -1% compared to the sales of US $12.23 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to May 2018, sales of US dollars averaged US $1.81 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Year Month US dollar sales in billions Increase/(decrease) compared to the previous month
2017 January 2.2
2017 February 2 -9%
2017 March 2.1 5%
2017 April 1.8 -14%
2017 May 2.3 28%
2017 June 0.6 -74%
2017 July 2.2 267%
2017 August 2.1 -5%
2017 September 1 -52%
2017 October 2.2 120%
2017 November 1.9 -14%
2017 December 1.9 0%
2018 January 2.2 16%
2018 February 2 -9%
2018 March 1.9 -5%
2018 April 2.1 11%
2018 May 0.3 -86%


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