Banks reduced demand at currency auction

12:54 - 27.12.2022

December 27, 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, $59 million was sold at the foreign exchange auction on 27 December ($12.8 million, or 17.83% less than at the last auction). At the auction on 22 December, the Central Bank sold $71.8 million worth of currency to banks.

"The demand from banks at the currency auction amounted to $59 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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