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The Iraqi currency auction records a 90% increase in foreign remittances
Economical 05/28/2024
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Foreign remittance sales at the Central Bank of Iraq auction, yesterday, Monday, increased by 90% over cash sales, reaching more than 251 million dollars.
During its auction for buying and selling US dollars, the Central Bank sold 276 million 887 thousand and 116 dollars, which the bank covered at a base exchange rate of 1,310 dinars per dollar for documentary credits and international settlements for electronic cards, at 1,310 dinars per dollar for external transfers, and at 1,305 dinars per dollar in cash.
Most of the dollar sales went to strengthen balances abroad in the form of (remittances, credits), which amounted to 251 million 787 thousand and 116 dollars, an increase of 90% over cash sales amounting to 25 million and 100 thousand dollars.
The number of banks that purchased cash dollars reached 4 banks, while the number of banks that responded to requests to enhance balances abroad reached 16 banks, while the total number of exchange and brokerage companies participating in the auction was 29 companies.
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