Tuesday, 02 January 2024 12:17 GMT

Demand At Azerbaijani Central Bank's Currency Auction Decreases


(MENAFN- Trend News Agency) BAKU, Azerbaijan, January 23. The Central Bank of Azerbaijan (CBA) has held yet another currency auction, and it seems the demand has taken a bit of a dip, Trend reports via CBA.

The demand at the auction amounted to $52.5 million (down 1.32 percent, or $700,000, compared to the previous auction) and was fully satisfied.

Meanwhile, at the previous currency auction, the demand amounted to $53.2 million.

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

The maximum demand for currency since early 2025 was recorded at the auction held on January 7-$73.5 million. This year, currency auctions have sold for a total of $391.5 million.

In the interim, the aggregate amount of $7.09 billion has been acquired through 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.

MENAFN23012025000187011040ID1109121251


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.