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Remittances of currency abroad rise to $278 million in CBI’s auction

Baghdad (IraqiNews.com) – Remittances of currency abroad rose to $278 million in the Central Bank of Iraq’s (CBI) auction on Tuesday.

The CBI sold on Tuesday, during its auction for buying and selling the US currency, $278,612,406 at an exchange rate of 1305 Iraqi dinar for letters of credit and international settlements for debit and credit cards.

The CBI sold US dollars at an exchange rate of 1310 Iraqi dinars for cash sales and remittances abroad, according to Shafaq News.

Most of the CBI’s US dollar sales aimed at enhancing balances abroad in the form of transfers and letters of credit reached $253,058,406, representing an increase of 90 percent compared to cash sales, which reached $25.56 million.

Six banks in Iraq bought US dollars in cash, and four others met the requests of their customers to enhance their balances abroad.

181 currency exchange shops and brokerage companies took part in the CBI’s auction.

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