Banks increase demand at currency auction by 26.7%

14:19 - 25.10.2022

October 25, Fineko/abc.az. The Central Bank of Azerbaijan has conducted a currency auction with the participation of the State Oil Fund.

According to the CBA, $67.4 million was sold at today’s currency auction that is $14.2 million, or 26.69% more than at the last auction.

At the auction on 20 October, the Central Bank sold currency for $53.2 million to banks.

"The demand from banks at the currency auction amounted to $67.4 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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