Central Bank of Iraq Auctions $199,935,053 on 12 March 2018
Iraqi Dinars – File Photo
Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on March 12 registered $199,935,053 in sales, a 0.07% volume increase from the US $199,804,108 sold by Iraqi Dinar, credit and transfer at the previous auction held on March 11.
The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on March 12 compared to the previous auction.
Data for the March 12 auction was made public by CBI Announcement Number 3653.
Dollar sales in the in the period January 1, 2018 to March 12, 2018 saw an increase of -1% compared to the sales of US $7.19 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 March 2018, sales of US dollars averaged US $1.81 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 | 2.2 | 16% |
| 2018 | February | 2 | -9% |
| 2018 | March | 0.7 | -65% |