Banks increased demand at currency auction more than by 75%

12:48 - 1.11.2022

November 1, 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, $65.6 million was sold at today’s auction, which is $28.3 million or 75.87% more than at the previous auction. At the auction on 27 October, the Central Bank sold $37.3 million worth of currency to banks.

"The demand from banks at the currency auction amounted to $65.6 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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