Demand At Azerbaijani Central Bank's Currency Auction Falls

(MENAFN- Trend News Agency) BAKU, Azerbaijan, January 21. The Central Bank of Azerbaijan (CBA) conducted another currency auction on January 21, Trend reports via CBA.

The demand at the auction amounted to $53.2 million (down 25.49 percent, or $18.2 million, compared to the previous auction) and was fully satisfied.

Meanwhile, at the previous currency auction, the demand amounted to $71.4 million.

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

The maximum demand for currency was recorded at the auction held on January 7 this year-$73.5 million. This year, currency auctions have sold for a total of $339 million.

Meanwhile, a total of $7.09 billion has been purchased at currency auctions in 2024.

About $417.1 million were purchased at currency auctions in January 2024, $870.6 million in February, $498.3 million in March, $623.4 million in April, $558.6 million in May, $581 million in June, $597.1 million in July, $649.1 million in August, $582.87 million in September, $738.7 million in October, $487.1 million in November, and $492.2 million in December.

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

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