Demand At Currency Auction Of Central Bank Of Azerbaijan Falls

2024-04-16 06:08:10

(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.

Stay up-to-date with more news at Trend News Agency'sWhatsApp channel

MENAFN16042024000187011040ID1108099634

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.