Demand At Currency Auction Of Central Bank Of Azerbaijan Falls

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 16. The Central Bank ofAzerbaijan (CBA) has held the next currency auction today, Trend reports.

According to CBA, the auction's demand was $72.4 million, an8.24 percent or $6.5 million decrease from the previous auction,and was fully met.

Meanwhile, interest for the preceding currency auction reached$78.9 million.

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

To date, $2.099 billion has been purchased at currency auctionssince the start of the year. The highest currency demand wasreported at the auction held on February 13, 2024, at $151.1million. In January 2024, $417.1 million was spent at currencyauctions, followed by $870.6 million in February and $498.3 millionin March.

To note, a total of $3.836 billion was purchased at currencyauctions in 2023.

The CBA began conducting currency auctions through theunilateral sale of currency in competitive conditions inmid-January 2017.

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