Banks reduce demand at currency auction

12:44 - 4.08.2022

August 4, Fineko/abc.az. The Central Bank of Azerbaijan has held a currency auction with the participation of the State Oil Fund.

According to the CBA, $38.3 million was sold at auction on 4 August ($28.3 million, or 42.49% less than in the previous auction).

"The demand from banks at the currency auction amounted to $38.3 million and was fully secured," the CBA said in a statement.

As a result of the auction, the weighted average exchange rate of the manat was formed at the level of 1.7000 AZN/USD.

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