Central Bank sold $62.9 million to banks in a currency auction


May 5, Fineko/abc.az. The Central Bank of Azerbaijan has conducted a currency auction with the participation of the State Oil Fund (SOFAZ).

According to the CBA, $62.9 million was sold to banks at the currency auction on 5 May.

"Demand from banks in the currency auction amounted to $62.9 million and was fully secured," the CBA said in a statement.

At the end of the auction the average weighted exchange rate was AZN 1.7 to the US dollar.