Banks' demand declined 2.3-fold at currency auction

12:43 - 16.05.2023

May 16, Fineko/abc.az. The Central Bank of Azerbaijan hs held a currency auction with the participation of the State Oil Fund.

According to the CBA, at the currency auction on May 16, the demand of banks amounted to $26.3 million and was fully secured. This is $35.1 million or 2.3 times less 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 currency auction on May 11, the Central Bank sold $61.4 million to banks.