BAKU: The Central Bank of Azerbaijan (CBA) has held the next currency auction today, marking a decrease in demand, Trend reports.
The CBA data shows that the auction’s demand was $72.8 million, down to 34.12 percent or $37.7 million over the previous auction, and was completely met.
Meanwhile, at the previous currency auction, demand totaled $110.5 million.
The weighted average exchange rate at the end of the auction was 1.7 AZN/1 USD.
To date, $3.04 billion has been purchased at currency auctions since the start of the year. The highest currency demand was reported at the auction held on February 13, 2024, at $151.1 million. In January 2024, $417.1 million was spent at currency auctions, followed by $870.6 million in February, $498.3 million in March, $623.4 million in April, and $558.6 million in May.
To note, a total of $3.836 billion was purchased at currency auctions in 2023.
The CBA began conducting currency auctions through the unilateral sale of currency in competitive conditions in mid-January
2017.
Source: Trend News Agency