Central Bank Of Azerbaijan Holds Regular Foreign Exchange Auction
The Central Bank of Azerbaijan (CBA) held a regular currency
auction involving the State Oil Fund of Azerbaijan (SOFAZ) on
September 29, reports referring to the CBA.
According to the bank, the demand of local banks for foreign
currency amounted to $56.6 million and was fully satisfied.
The average weighted exchange rate of the Azerbaijani manat to
the US dollar amounted to 1.7 AZN/1 USD based on the results of the
The Central Bank has begun to conduct foreign exchange auctions
through a one-way sale of currency in a competitive environment
since mid-January 2017.
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