(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 7. The Central Bank ofAzerbaijan (CBA) has held the next currency auction today, Trend reports.
CBA reported that the auction's demand was $75.1 million, up2.18 percent or $1.6 million from the previous auction, and wasfully met.
Meanwhile, at the previous currency auction, demand totaled$73.5 million.
The weighted average exchange rate at the end of the auction was1.7 AZN/1 USD.
To date, $2.558 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, a total of $498.3million in March, and $623.4 million in April.
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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