Baghdad, Iraq- The Iraqi Central Bank (CBI) reported total US dollar sales of $293,340,631 during its currency auction on Sunday. The bank facilitated these transactions at a base exchange rate of 1,310 IQD per dollar for documentary credits, international settlements of electronic cards, and foreign transfers. Meanwhile, the exchange rate for cash transactions stood at 1,305 IQD per dollar.
Most of the dollar sales were directed toward strengthening foreign balances through transfers and credits. These transactions amounted to $275,440,631, accounting for 93.82% of total sales. In contrast, cash sales were significantly lower, totaling $17,900,000.
One bank participated in purchasing cash dollars, while five institutions processed requests to support balances abroad. Additionally, 23 exchange and brokerage companies took part in the auction.
The Central Bank’s auction system plays a crucial role in maintaining exchange rate stability and supporting international transactions. With foreign transfers making up the majority of sales, the financial sector continues to prioritize global economic engagement.
