Banks reduced demand at currency auction by 23%

12:42 - 22.12.2022

December 22, 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, $71.8 million was sold at the foreign exchange auction on December 22 ($21.6 million, or 23.13% less than at the last auction). At the auction on 20 December the CBA sold $93.4 million worth of currencies to banks.

"The demand from banks at the currency auction amounted to $71.8 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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