Banks lower demand at currency auction by 31.6%

12:40 - 12.01.2023


January 12, Fineko/abc.az. The Central Bank of Azerbaijan (CBA) has held a currency auction with the participation of the State Oil Fund.

According to the CBA, $35 million was sold at the currency auction on 12 January 2023, which is $16.2 million (31.6%) less than at the last auction. At the auction on 10 January 2022 the CBA sold $51.2 million worth of currencies to banks.

"The demand from banks at the currency auction amounted to $35 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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