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Azerbaijan's Central Bank holds regular foreign exchange auction
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, April 26. The Central Bank of Azerbaijan (CBA) held a regular currency auction with the participation of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) on April 26, Trend reports referring to the bank.
According to the CBA, the foreign currency demand of local banks amounted to $61 million and was fully met.
The average weighted exchange rate of the manat to the US dollar amounted to 1.7 AZN/1 USD based on the results of the auction.
The CBA has begun to conduct foreign exchange auctions through a one-way sale of currency in a competitive environment since mid-January 2017.
Tags:- Central Bank of Azerbaijan
- foreign currency exchange
- State Oil Fund of Azerbaijan (SOFAZ)
- foreign currency demand
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