CBI auctions: about $800 million during the past week

[currenzcraze]

CBI auctions: about $800 million during the past week

EconomyBreakingCBI

2024-03-23 08:35

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Shafaq News / The total sales of the Iraqi Central Bank (CBI) in hard currency of the US dollar exceeded $750 million during the past week, with most of it transferred abroad. Our correspondent reported that CBI sold during the past week, over five days of auctions, $783,479,822, at a daily rate averaging $195,869,955, which is lower compared to the previous week's sales of $1,103,965,362. The highest dollar sales were recorded last Wednesday, reaching $254,470,640, while the lowest was on Sunday, totaling $240,715,788. Foreign exchange sales during the past week amounted to $710,439,822, an increase of 90% compared to cash sales, which reached $73,040,000." The sales were made in cash and transfer abroad to finance foreign trade, with the selling price of documentary credits and international settlements for electronic cards at 1,305 IQD per dollar. Meanwhile, the selling price for transfers abroad and cash sales was 1,310 IQD per dollar.

[jake21]

On and on it goes! Free money for the corrupt...

[gregp]

24 minutes ago, jake21 said:

On and on it goes! Free money for the corrupt...

Making it while they can. 

[Longtimelurker]

20% decrease over most weeks, could be beginning of permanent drop to zero..

[psdon]

maybe it's Ramadan 

[3n1]

the cbi auctions sale USD for IQD , hopefully they are still removing iqd and not putting it back in circulation .. thats my new positive mindset 🤣 🤣🤣