Banks double demand at currency auction

12:37 - 11.05.2023

May 11, Fineko/ The Central Bank of Azerbaijan has held a currency auction with the participation of the State Oil Fund.

According to the CBA, at the currency auction on May 11, the demand of banks amounted to $61.4 million and was fully secured. This is $30.8 million or 2-fold more than at the last auction.

As a result of the auction, the weighted average exchange rate of the manat was formed at the level of 1.7000 AZN/USD.

At a foreign exchange auction on May 4, the CBA sold $30.6 million to banks.