Foreign remittances rise at Central Bank of Iraq auction

by times news cr

2024-01-28T10:24:03+00:00

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/ Foreign remittances increased in the Central Bank auction on Sunday by 88% at the expense of cash sales to reach $183 million.

Agency correspondent reported that the Central Bank sold today during its auction for buying and selling the US dollar 205 million and 85 thousand and 841 dollars, which the bank covered at a basic exchange rate of 1305 dinars per dollar for documentary credits and international settlements for electronic cards and at a rate of 1310 dinars per dollar for foreign transfers and at a rate of 1310 dinars per dollar in cash.

Our correspondent added that most of the bank’s dollar sales went to boost balances abroad in the form of (transfers, credits) which amounted to 183 million, 865 thousand, and 841 dollars, an increase of 88% over cash sales amounting to 21 million, 220 thousand dollars.

Our correspondent pointed out that the number of banks that purchased cash dollars was 4 banks, while the number of banks that met requests to enhance balances abroad was 22 banks, while the total number of exchange and brokerage companies participating in the auction was 73 companies.

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