BAKU, Azerbaijan, February 29. The Central Bank
of Azerbaijan (CBA) held another currency auction, Trend reports.
The CBA data shows that the demand at the auction amounted to
$80 million (a decrease of 23.88 percent or $25.1 million compared
to the previous auction) and was fully satisfied.
Meanwhile, at the previous currency auction, the demand amounted
to $105.1 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, $1.2 billion has been purchased
at currency auctions. The maximum demand for currency was recorded
at the auction held on February 13, 2024 – $151.1 million. A total
of $417.1 million was purchased at currency auctions in January
2024 and $870.6 million in February.
However, $3.8 billion was purchased at currency auctions in
2023.
The CBA started conducting currency auctions by unilateral sale
of foreign currency under competitive conditions in mid-January
2017.
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