Remittances of currency abroad increase in CBI’s auction
The Central Bank of Iraq. Photo: INA
Baghdad (IraqiNews.com) – Remittances of currency abroad increased in the Central Bank of Iraq’s (CBI) auction on Tuesday by 90 percent, compared to cash sales, to reach $194 million.
The CBI sold on Tuesday, during its auction for buying and selling the US currency, $214,954,064, at an exchange rate of 1305 Iraqi dinar for letters of credit and international settlements for debit and credit cards.
The CBI sold US dollars at an exchange rate of 1310 Iraqi dinars for remittances abroad, according to Shafaq News.
Most of the CBI’s US dollar sales aimed at enhancing balances abroad in the form of transfers and letters of credit reached $194,954,659, representing an increase of 90 percent compared to cash sales, which reached $19.11 million.
Nine banks bought US dollars in cash, and 17 banks met requests to enhance balances abroad.
156 currency exchange and brokerage companies took part in the CBI’s auction.