Demand At Azerbaijani Central Bank's Currency Auction Grows

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 28. The Central Bank ofAzerbaijan (CBA) has held further currency auction, Trend reports viaCBA.

The data of CBA shows that the demand at the auction amounted to$94.6 million (an increase of 1.72 percent or $1.6 million comparedto the previous auction) and was fully met.

To recall, demand at the previous currency auction was $93million.

The weighted average exchange rate at the end of the auction was1.7 AZN/1 USD.

Since the start of the year, currency auctions have raised a totalof $1.78 billion. The highest currency demand was reported at theauction conducted on February 13, 2024, at $151.1 million. $417.1million was purchased at currency auctions in January 2024,followed by $870.6 million in February.

However, $3.8 billion was acquired at currency auctions in2023.

To note, the CBA has started conducting currency auctionsutilizing unilateral sales of foreign currency under competitiveconditions since mid-January 2017.

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