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Foreign currency exchange climbs, Iraq’ central bank says

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Foreign currency exchange climbs, Iraq’ central bank says Empty Foreign currency exchange climbs, Iraq’ central bank says

Post by RamblerNash Tue May 11, 2021 10:29 pm

Foreign currency exchange climbs, Iraq’ central bank says 1618232595303
2021-05-11 02:41

Shafaq News / the Central Bank of Iraq on Tuesday, announced an increase in the foreign currency exchange.

Shafaq News Agency correspondent said that the foreign currency auction of the Central Bank of Iraq recorded a 13.04 % increase to 208,988,635 dollars which the bank covered at an exchange rate of 1460 dinars per dollar.

He added that the sales operations were in the form of wire transfer and credits (162,888,635 $) and cash money (46,100 dollars).

Last December, Iraq’s central bank increased the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars, seeking to compensate for a decline in oil revenue due to low crude prices.

The central bank of Iraq said the key reason behind the dinar’s devaluation was to close the gap of widened 2021 budget inflation after a collapse in global oil prices, a major source of Iraq’s financial resources.

https://shafaq.com/en/Economy/Foreign-currency-exchange-climbs-Iraq-central-bank-says-7
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