Demand At Currency Auction Of Azerbaijan Central Bank Decreases

2024-06-11 05:32:44

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 11. The Central bank of Azerbaijan (CBA) held another currency auction on June 11, Trend reports.

CBA data indicates that the demand at the auction amounted to $64.5 million (33.85 percent or $33 million reduction compared to the previous auction) and was fully satisfied.

In the meantime, the demand at the previous currency auction reached a whopping $97.5 million.

The weighted average exchange rate at the end of the auction amounted to 1.7 AZN/1 USD.

Since the beginning of the year, $3.2 billion has been purchased at currency auctions. The maximum demand for currency was recorded at the auction on February 13, 2024 - $151.1 million. In January 2024, $417.1 million was purchased at currency auctions, in February - $870.6 million, in March - $498.3 million, in April - $623.4 million, in May - $558.6 million.

To note, $3.836 billion was purchased at currency auctions in 2023.

The CBA started conducting currency auctions by unilaterally selling foreign currency under competitive conditions in mid-January 2017.

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