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Foreign remittance sales rise by 95% at Central Bank of Iraq auction
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2024-07-29 06:09
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2024-07-29 06:09
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Shafaq News/ Sales of foreign remittances at the Central Bank of Iraq auction witnessed a 95% increase compared to cash sales, reaching more than $257 million, on Monday.
Shafaq News Agency correspondent explained that the Central Bank sold 269 million, 128 thousand, and 473 dollars during the auction, which was covered at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, at a rate of 1310 dinars per dollar for foreign transfers, and at a rate of 1305 dinars per dollar for cash.
The correspondent added that most of the dollar sales were directed to boosting balances abroad in the form of remittances and credits, which amounted to $257 million, 128 thousand and 473, an increase of 95% compared to cash sales, which amounted to $12 million.
He pointed out that the number of banks that purchased cash dollars was one bank, while the number of banks that met requests to enhance balances abroad was 17 banks. 17 exchange and brokerage companies participated in the auction.
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Shafaq News Agency correspondent explained that the Central Bank sold 269 million, 128 thousand, and 473 dollars during the auction, which was covered at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, at a rate of 1310 dinars per dollar for foreign transfers, and at a rate of 1305 dinars per dollar for cash.
The correspondent added that most of the dollar sales were directed to boosting balances abroad in the form of remittances and credits, which amounted to $257 million, 128 thousand and 473, an increase of 95% compared to cash sales, which amounted to $12 million.
He pointed out that the number of banks that purchased cash dollars was one bank, while the number of banks that met requests to enhance balances abroad was 17 banks. 17 exchange and brokerage companies participated in the auction.
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