(MENAFN- Trend News Agency)
BAKU, Azerbaijan, July 5. The Central Bank of
Azerbaijan (CBA) held a currency auction involving the State Oil
Fund of Azerbaijan (SOFAZ) on July 5, Trend reports referring to the CBA.
According to the CBA, the demand of local banks for foreign
currency amounted to $38.5 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 started holding foreign exchange auctions through the
unilateral sale of foreign currency in competitive conditions from
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