Central Bank Of Azerbaijan Holds Regular Foreign Exchange Au...| MENAFN.COM

Thursday, 08 December 2022 08:14 GMT

Central Bank Of Azerbaijan Holds Regular Foreign Exchange Auction

(MENAFN- AzerNews)


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 auction.

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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