Remittances of currency abroad rise by 95% in CBI’s auction
The Central Bank of Iraq. Photo: Shafaq News
Baghdad (IraqiNews.com) – Remittances of currency abroad rose in the Central Bank of Iraq’s (CBI) auction on Thursday by 95 percent, compared to cash sales.
The CBI sold on Thursday, during its auction for buying and selling the US currency, $205,457,750 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 $195,297,750, representing an increase of 95 percent compared to cash sales, which reached $9.86 million.
Four banks bought US dollars in cash, and 17 banks met requests to enhance balances abroad.
61 currency exchange shops and brokerage companies took part in the CBI’s auction.