(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 19. The Central
Bank of Azerbaijan (CBA) held another currency auction with the
participation of the State Oil Fund of Azerbaijan (SOFAZ) on
September 12, 2023, Trend reports.
The CBA data show that the demand at the auction
amounted to $26.6 million (an increase of 5.98 percent, or $1.5
million, compared to the previous auction) and was fully met.
The demand at the previous auction was $25.1
Based on the outcomes of the auction, the average
weighted exchange rate of the Azerbaijani manat came to 1.7 AZN per
At currency auctions, $2.4 billion has been bought
since the year's start. The auction held on March 28, 2023, saw a
record-high demand for the currency of $96.3 million.
The average demand at currency auctions organized by
the Central Bank of Azerbaijan in 2022 amounted to 52.4 million
manat ($30.8 million), while the supply was $70 million.
Moreover, the CBA started conducting currency auctions
by one-way sale of currency in competitive conditions in
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