Central Bank of Iraq Auctions $187,186,874 on 14 January 2018
Iraqi Dinars – File Photo
Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on January 14 registered $187,186,874 in sales, a 16.57% volume increase from the US $160,578,398 sold by Iraqi Dinar, credit and transfer at the previous auction held on January 11.
The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on January 14 compared to the previous auction.
Data for the January 14 auction was made public by CBI Announcement Number 3612.
Dollar sales in the in the period January 1, 2018 to January 14, 2018 saw an increase of -1% compared to the sales of US $1.23 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 January 2018, sales of US dollars averaged US $1.78 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 | 0.8 | -58% |