Demand At Currency Auction Of Azerbaijan's Central Bank Goes Up


(MENAFN- Trend News Agency) BAKU, Azerbaijan, February 13. The Central Bank of Azerbaijan (CBA) has held the next currency auction, Trend reports, referring to CBA.

According to CBA figures, demand at the auction totaled $151.1 million (up 146.09 percent, or $89.7 million, from the previous auction), which was fully met.

At the previous currency auction, the demand was $61.4 million.

The weighted average exchange rate after the sale was 1.7 AZN per USD.

Since the beginning of the year, $788 million has been purchased through currency auctions. The auction on February 13, 2024, saw a maximum demand for foreign currency of $151.41 million.

Meanwhile, $3.8 billion was acquired at currency auctions in 2023.

The CBA started conducting foreign exchange auctions through the unilateral sale of foreign currency on competitive terms in the middle of January 2017.

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