Demand At Azerbaijani Central Bank's Currency Auction Decreases

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 23. The Central Bank ofAzerbaijan (CBA) has held the next currency auction today, Trend reports.

According to CBA, the auction's demand was $77.4 million, a 3.01percent or $2.4 million decrease over the previous auction, and wascompletely satisfied.

Meanwhile, at the previous currency auction, demand totaled$79.8 million.

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

To date, $2.256 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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