(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 6 . The
Central Bank of Azerbaijan (CBA) held a regular foreign exchange
auction involving the State Oil Fund of the Republic of Azerbaijan
(SOFAZ) on December 6, trend reports via the Central Bank.
According to the bank, the demand in the auction
amounted to $49.2 million and was fully met.
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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