The profits of 13 banks participating in the currency auction during Thursday amounted to about 700 million dinars
The profits of banks participating in the auction of the sale of currency for cash sales amounted to about 700 million Iraqi dinars during the day Thursday only.
During an auction for the sale and purchase of US dollars, the central bank sold 117 million and 140 thousand dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar, after these sales reached more than 250 million dollars over the past months.
Most of these sales went to boost balances abroad in the form of transfers and credits, which amounted to 82 million and 840 thousand dollars, while the rest went in the form of cash sales of 34 million and 300 thousand dollars.
There were 15 banks that fulfilled requests for strengthening balances abroad, 13 banks to fulfill cash requests, in addition to 111 brokerage companies.
The monetary difference between the official dollar rate that banks buy for the purpose of cash orders and the price they sell on the market is about 20 dinars per dollar, and
by buying 34 million and 300 thousand dollars for cash sales, this means that the
profits of the 13 banks during Thursday alone amounted to about 700 million dinars.