BAKU: The Central Bank of Azerbaijan (CBA) held another currency auction, Trend reports via Central Bank of Azerbaijan (CBA)
As CBA data read, the auction’s demand totaled $108.1 million (up 5.36 percent or $5.5 million from the previous auction) and was entirely satisfied.
Meanwhile, at the previous currency auction, demand totaled $102.6 million.
The weighted average exchange rate at the end of the auction was 1.7 AZN/1 USD.
Since the start of the year, $1.1 billion has been bought at currency auctions. The highest currency demand was reported at the auction conducted on February 13, 2024, at $151.1 million. Some $417.1 million was purchased at currency auctions in January 2024.
To note, $3.8 billion was purchased at currency auctions in 2023.
The CBA started conducting currency auctions by unilateral sale of foreign currency under competitive conditions in mid-January 2017.
Source: Trend News Agency