Iraq’s Central Bank sells over $1 billion in one week
The Central Bank of Iraq. Photo: INA
Baghdad (IraqiNews.com) – Over the last week, the Central Bank of Iraq (CBI) sold more than $1 billion worth of US currency.
The CBI sold over $1.08 billion at a daily rate of $217.5 million, higher than the previous week, when its sales were approximately $825.5 million, according to Shafaq News.
The highest sales of the US currency took place last Tuesday, when it reached around $241.8 million, while the lowest sales took place on Sunday, when it reached $208.2 million.
The CBI’s remittances of currency abroad during the past week were nearly $825.9 million, representing an increase of 91 percent compared to cash sales, which reached $72.7 million.
The CBI’s US dollar sales aimed to finance foreign trade in the form of transfers and cash sales.
While cash sales were done at an exchange rate of 1,310 Iraqi dinars, the Central Bank of Iraq supplied US dollars for letters of credit and international settlements for debit and credit cards at a rate of 1305 Iraqi dinars.