(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 6. The Central
Bank of Azerbaijan (CBA) held a regular foreign exchange auction
involving the State Oil Fund (SOFAZ) on June 6, trend reports.
According to the CBA, the demand at the auction
amounted to $8.6 million (a decrease of 63.95 percent or $ 5.5
million compared to the previous auction) and was fully met.
Meanwhile, the demand amounted to $14.1 million at the
previous currency auction.
The average weighted exchange rate of the Azerbaijani
manat to the US dollar amounted to 1.7 AZN/1 USD based on the
A total of $1.5 billion has been purchased at currency
auctions since the beginning of the year. The maximum demand for
the currency was at the auction held on March 28, 2023 – $96.3
The average demand at currency auctions organized by
the CBA in 2022 amounted to $52.4 million, while the supply was $70
The CBA started conducting currency auctions by
unilateral sale of currency in competitive conditions from
mid-January 2017. Auctions are held in the form of a unilateral
sale of currency in competitive conditions.
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