(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 28. The Central Bank of
Azerbaijan (CBA) has held a regular foreign exchange auction
involving the State Oil Fund of Azerbaijan (SOFAZ), trend reports via the CBA.
According to the bank, the demand at the auction amounted to
$96.3 million and was fully met.
"The relatively high demand at the auction was conditioned with
the accumulated demand due to two auctions which didn't take place
according to the schedule in connection with the holidays
[Novruz]," the CBA added.
The average weighted exchange rate of the Azerbaijani manat to
the US dollar amounted to 1.7 AZN/1 USD based on the auction
results.
During the previous auction, the demand amounted to $47.9
million.
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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