Central Bank of Iraq Dollar Sales Reach High Transfers
External remittances associated with dollar sales have surpassed 91% during the recent currency auction conducted by the Central Bank of Iraq. On Thursday, the bank reported sales totaling $296,009,007, following a fixed exchange rate of 1,310 dinars per dollar for documentary credits and international settlements via electronic cards. For external transfers, the dollar was similarly priced at 1,310 dinars, while cash transactions were recorded at 1,305 dinars per dollar.
Sales Breakdown
The significant majority of the dollar sales were directed toward bolstering balances abroad, amounting to $273,659,007, which constitutes approximately 91.94% of the total sales. In contrast, only $22,350,000 was designated for other uses.
Participant Overview
The auction witnessed participation from one bank acquiring the monetary dollar, while the requests for enhancing balances abroad were met by seven banks. Additionally, a total of 24 exchange companies participated in this currency auction, reflecting robust market involvement.
This transaction highlights the ongoing efforts of the Central Bank to facilitate international financial engagement while maintaining the stability of the Iraqi dinar in the face of increasing external demand.
