Banks cut demand at currency auction by 14.3%


January 13, Fineko/ The Central Bank of Azerbaijan has conducted a currency auction with the participation of the State Oil Fund.

The CBA informs that $96.9 million was sold at today’s auction, which is $16.2 million (14.32%) less than at the previous auction.

"The demand from banks at the auction amounted to $96.9 million and was fully secured," the CBA said in a statement.

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