Banks reduce demand at currency auction

12:39 - 10.01.2023

January 10, Fineko/abc.az. The Central Bank of Azerbaijan (CBA) held a currency auction with the participation of the State Oil Fund.

According to the CBA, $51.2 million was sold at the foreign exchange auction on 10 January 2023 ($1.5 million, or 2.85% less than in the previous auction). At the auction on 5 January 2022, the CBA sold $52.7 million worth of currencies to banks.

"The demand from banks at the currency auction amounted to $51.2 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