The Iraqi Central Bank's foreign currency auction witnessed sales exceeding $4 billion during the past month of July.
According to the bank's report, a total of $4,062,704,047 were sold through its auctions for buying and selling the US dollar in July. The average daily sales amounted to $213,816,528, indicating a 20% decrease compared to the previous month, which saw sales of $267,947,062. Additionally, the sales for July 2023 decreased by 18% when compared to the same period last year in 2022.
The report highlighted that foreign remittances during the previous month reached $3,583,724,047, representing an 86.6% increase compared to the cash sales, which totaled $478,980,000.
It added that these sales were divided between foreign remittances to finance foreign trade and cash sales to banks. The selling rate for documentary credits and international settlements for electronic cards stood at 1,305 Iraqi dinars per dollar, while the selling rate for foreign remittances and cash sales was set at 1,310 Iraqi dinars per dollar.
Source: Qatar News Agency