Remittances of currency abroad rise to $185 million in CBI’s auction
An Iraqi man walks past the headquarters of the Central Bank of Iraq in Baghdad, Iraq. Photo: Reuters
Baghdad (IraqiNews.com) – Remittances of currency abroad rose in the Central Bank of Iraq’s (CBI) auction on Thursday by 88 percent, compared to cash sales, to reach $185 million.
The CBI sold on Thursday, during its auction for buying and selling the US currency, $208,407,735 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 cash sales and 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 $185,517,735, representing an increase of 88 percent compared to cash sales, which reached $22.89 million.
Six banks bought US dollars in cash, and 16 banks met requests to enhance balances abroad.
69 currency exchange shops and brokerage companies took part in the CBI’s auction.