On Monday, foreign remittance sales at the Iraqi Central Bank auction increased by 93%, reaching over $233 million, at the expense of cash sales.

A source stated that the bank sold $252,016,660 at today's auction, covered by an exchange rate of 1,310 dinars per dollar for documentary credits and international card settlements, 1,310 dinars per dollar for foreign remittances, and 1,305 dinars per dollar for cash transactions.

The source added that most of the dollar sales were used to bolster foreign balances in the form of remittances and credits, totaling $233,766,660, up 92% from the cash sales amounting to $18,250,000.

The source also noted that only one bank purchased cash dollars, while 14 banks met the requests for enhancing foreign balances. A total of 22 exchange companies participated in the auction.