Remittances of currency abroad rise in CBI’s auction
The Central Bank of Iraq. Photo: AFP
Baghdad (IraqiNews.com) – Remittances of currency abroad increased in the Central Bank of Iraq’s (CBI) auction on Monday by 93 percent, compared to cash sales, to reach $193 million.
The CBI sold on Monday, during its auction for buying and selling the US currency, $208,032,380, 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 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 $193,554,380, representing an increase of 93 percent compared to cash sales, which reached $14.478 million.
Four banks bought US dollars in cash, and 20 banks met requests to enhance balances abroad.
38 currency exchange and brokerage companies took part in the CBI’s auction.