Banks increase demand at currency auction by 42%


September 22, Fineko/ The Central Bank of Azerbaijan has held a currency auction with the participation of the State Oil Fund.

According to the CBA, $45.7 million was sold at today’s auction, which is $13.4 million (41.49%) more than at the last auction.

"The demand from banks at the currency auction amounted to $45.7 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.