Remittances of currency abroad surpass $226 million in CBI’s auction
The Central Bank of Iraq. Photo: INA
Baghdad (IraqiNews.com) – Remittances of currency abroad in the Central Bank of Iraq’s (CBI) auction rose to $226 million on Thursday, compared to remittances that took place on Wednesday, when they reached approximately $224 million.
The CBI sold on Thursday, during its auction for buying and selling the US currency, $235,414,990 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 $226,144,990, representing an increase of 95 percent compared to cash sales, which reached $9.27 million.
A few banks in Iraq bought US dollars in cash, and others met the requests of their customers to enhance their balances abroad.
Currency exchange shops and brokerage companies usually take part in the CBI’s auction.