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Iraq’s Central Bank Hits Nearly $300 Million in Currency Sales: Detailed Breakdown Inside

2025-01-28T10:11:10+00:00

On Tuesday, the Central Bank reported total dollar sales amounting to approximately $300 million.

The bank conducted an auction selling $299,950,287, utilizing a basic exchange rate of 1,310 dinars per dollar for documentary credits and international settlements via electronic cards, and maintained a rate of 1,310 dinars per dollar for external transfers, with a slightly lower rate of 1,305 dinars per dollar for cash transactions.

A significant portion of the dollar sales, amounting to $267,200,287 or 88%, was directed towards strengthening foreign balances through transfers and credits. This contrasts with cash withdrawals that accounted for $32,750,000.

Notably, only two banks participated in cash dollar purchases, while six banks were involved in fulfilling requests aimed at bolstering foreign balances. In total, 37 exchange companies participated in the auction.

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