About 100% increase in foreign remittance sales at the Central Bank of Iraq auction

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About 100% increase in foreign remittance sales at the Central Bank of Iraq auction
About 100% increase in foreign remittance sales at the Central Bank of Iraq auction

To reach more than $270 million, foreign remittance sales grew in the Central Bank auction on Thursday by 98% over cash sales.

Shafaq News Agency correspondent said that the bank sold 274 million, 957 thousand, and 492 dollars in its auction today covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, and at a rate of 1310 dinars per dollar for foreign transfers, and at a rate of 1305 dinars per dollar in cash.

Most of the dollar sales, he said, went to build balances abroad in the form of remittances and credits, totaling $270 million, 407 thousand, a 98% increase over cash sales totaling $4 million, 550 thousand.

Our correspondent noted that one bank bought cash dollars, while fifteen banks satisfied requests to improve balances overseas; the total number of exchange businesses taking part in the auction was eleven companies.

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