Banks lower demand by 32.3% at currency auction

12:52 - 18.10.2022

October 18, 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, $29.3 million was sold at the currency auction on 18 October (by $14 million, or 32.33%) less than in the previous auction. At the auction on 13 October, the Central Bank sold foreign currencies to banks for $43.3 million.

"The demand from banks at the currency auction amounted to $29.3 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.

 

Other news