Currency Auction"... The Iraqi Central Bank transfers more than 185 million dollars to enhance external balances

[RJG]

Currency Auction"... The Iraqi Central Bank transfers more than 185 million dollars to enhance external balances

EconomyU.S. DollarBreakingCoin AuctionCentral Bank Of IraqExternal Transfers

2023-12-05 05:12

Share

Font

 

Shafaq News/ External remittances increased at the Central Bank’s auction, today, Tuesday, by 89% at the expense of cash sales, to reach $185 million.

Shafaq News Agency correspondent said, “Today during its auction for buying and selling the US dollar, the Central Bank sold 205 million 379 thousand 604 dollars, which the bank covered at a base exchange rate of 1,305 dinars, per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for external transfers.” At a price of 1310 dinars per dollar in cash.

Our correspondent added that most of the bank's dollar sales went to strengthening balances abroad in the form of (remittances, credits), which amounted to 185 million 649 thousand and 604 dollars, an increase of 89% over cash sales amounting to 19 million 730 thousand dollars.

Our correspondent pointed out that the number of banks that purchased cash dollars reached 9 banks, while the number of banks that responded to requests to enhance balances abroad reached 18 banks, while the total number of exchange and brokerage companies participating in the auction was 139 companies

https://shafaq.com/ar/اقتصـاد/مزاد-العملة-المركزي-العراقي-يحو-ل-اكثر-من-185-مليون-دولار-لتعزيز-الارصدة-الخارجية

[RJG]

The Central Bank raises tens of millions of euros as an initial payment to cover imports from Türkiye

Central Bank of Iraq

 

Drains

   

 

---

Economy News - Baghdad

A government source revealed, on Tuesday, that the Central Bank has increased tens of millions of euros as an initial payment to cover imports from Turkey.

The source said, "In implementation of the banking arrangements agreement that was concluded with Turkey last week, the Central Bank of Iraq has, since last Sunday, the third of December, strengthened tens of millions of euros as an initial payment."

He added, "This aims to cover retailers' imports from Turkey, through Iraqi merchants paying in Iraqi dinars and the Central Bank strengthening them in euros so that settlement with Turkish merchants is made in Turkish lira. "https://economy-news.net/content.php?id=38169

[RJG]

Government source: Banking arrangements agreement with Turkey begins to be implemented

• Time: 2023/12/05 09:45:16
• Read: 1,183 times

  

{Economic: Euphrates News} A government source reported on Tuesday the start of the implementation of the banking arrangements agreement with Turkey from last Sunday.

 

“The central bank has boosted tens of millions of euros as an initial payment to cover imports of retailers from Turkey,” the source told {Ephrates News}.
He added, “This came through the Iraqi traders paying in Iraqi dinars and the Central Bank strengthening in euros.”
“And then the settlement is done with the Turkish traders in the Turkish lira,” he said.
The Central Bank of Iraq announced on the second of this month the agreement to make arrangements between Iraqi banks and their Turkish counterparts through intermediate banks.”
He pointed out that “the agreement provided for the organization of trade exchange for small traders and retailers (dinar against a euro or Turkish lira) under arrangements with combined remittances according to a commercial regulation that guarantees the integrated cycle of the trade process (depositing in dinars inside Iraq, payment in euros or lira in Turkey to ship goods from Turkey to Iraq).”

REPORT THIS AD

https://alforatnews.iq/news/مصدر-حكومي-البدء-بتنفيذ-اتفاق-الترتيبات-المصرفية-مع-تركيا

[RJG]

Part of me thinks this is a practice opportunity, before going global.  

[dinarham]

  Previously ,most of the USD auctioned off by the CBI was sold directly back to the cbi to allegedly strengthen foreign reserves . I have tracked the currency auctions for years , and I can tell you in the past the cbi was  extremely careless in the innerweb stuff they put out for the world to see . The dates they posted for the auctions included dates like  23/ 14/ 20 , and many more like this . They did no editing on what they were putting out there  , for no other reason other than they didn't give a shite . As dead Med said , no rv without the termination of the auctions

[jg1]

1 hour ago, dinarham said:

  Previously ,most of the USD auctioned off by the CBI was sold directly back to the cbi to allegedly strengthen foreign reserves . I have tracked the currency auctions for years , and I can tell you in the past the cbi was  extremely careless in the innerweb stuff they put out for the world to see . The dates they posted for the auctions included dates like  23/ 14/ 20 , and many more like this . They did no editing on what they were putting out there  , for no other reason other than they didn't give a shite . As dead Med said , no rv without the termination of the auctions

Just wondering how much of it went to Iran, and some of the government officials like potato head.