The Central Bank of Iraq (CBI) conducted an auction on Sunday, selling a total of $273,244,330. The majority of this amount, specifically $250,274,330, was channeled toward foreign balances through transfers and credit transactions. Cash transactions accounted for the remaining $22,970,000.
During the auction, the base exchange rate for documentary credits, international settlements of electronic cards, and foreign transfers was set at 1,310 dinars per dollar, whereas cash transactions were based on a rate of 1,305 dinars per dollar.
While three banks facilitated cash transactions, 15 banks handled requests related to external balances. In total, 40 exchange and brokerage companies participated in the auction, highlighting a significant preference for remittances over cash deals.
