BAKU: The Central Bank of Azerbaijan (CBA) held another currency auction on August 20, Trend reports.
According to CBA’s numbers, the complete satisfaction of the demand at the auction resulted in a total of $74.8 million, a 22.02 percent increase or $13.5 million over the previous auction.
The prior currency auction reached a total of $61.3 million in demand.
The weighted average exchange rate at the end of the auction amounted to 1.7 AZN/1 USD.
A total of $4.488 billion has been purchased at currency auctions since the beginning of the year. The maximum demand for currency was recorded at the auction on February 13, 2024 – $151.1 million. In January 2024, $417.1 million was purchased at currency auctions; in February – $870.6 million; in March – $498.3 million; in April – $623.4 million; in May – $558.6 million; in June – $581 million: and in July – $597.1 million.
In 2023, a whopping $3.836 billion was snapped up at currency auctions.
To note, in the middle of January 2017, the CBA began selling fore
ign currency unilaterally in competitive settings through currency auctions.
Source: Trend News Agency