Demand at currency auction decreased by 37.4%

12:39 - 30.05.2023

May 26, 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 30, the demand of banks amounted to $22.4 million and was fully secured. This is $13.4 million or 37.43% 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 foreign exchange auction on May 25, the Central Bank sold $35.8 million to banks.

In May 2023, the CBA sold $277.3 million worth of currencies at currency auctions (3% less than in April 2023 and 3.75% less than in May 2022).