Demand At Currency Auction Of Azerbaijan Central Bank Decreases
Date
6/11/2024 5:32:44 AM
(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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