Economist: Demand for dollars decreases in Azerbaijan

12:42 - 25.01.2023


January 25, Fineko/abc.az. “At the Central Bank's currency auction held on 24 January the banks did not submit applications for currency, that is, there was no sale of currency. And at the previous auction, the sales volume was only $1.5 million.”

ABC.AZ reports that economist Samir Aliyev, talking about this auction, noted that this is the first such case.

The economist said that since the beginning of 2023, there has been downward trend in sales at auctions:

"So, while at the first auction of the year, held on 5 January, $52.7 million was sold, at subsequent auctions there were respectively $51.2 million, $35 million, $18.7 million, $1.5 million, and, finally, there was no demand at the last auction.

In total, $159.1 million was sold at 6 auctions in January. While at 6 auctions held in January 2022, this figure was 4 times more - $642.7 million.”

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