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Central Bank of Iraq Sees External Transfer Sales Surge to Over 97%

2025-01-30T10: 01: 44+00: 00

Recent reports indicate that sales of foreign currency transfers from the central bank have reached an impressive 97% rate. The bank successfully auctioned a total of $286,974,525, applying a fundamental exchange rate of 1,310 dinars per dollar for documentary credits and international settlements conducted through electronic cards, while external transfers were valued at the same rate. Cash transactions were priced slightly lower at 1,305 dinars per dollar.

The majority of these dollar sales were directed towards strengthening foreign balances through transfers and credits, amounting to $279,974,525 or 97.85% of the total sales, in stark contrast to cash withdrawals that totaled just $6,850,000.

According to the available data, the purchasing banks for the monetary dollar were limited to one entity, while five banks were engaged to meet the requests aimed at enhancing foreign balances. Additionally, eleven exchange companies participated in the auction process.

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