Banks sharply reduced demand at currency auction

13:25 - 9.03.2022

March 9, Fineko/abc.az. The Central Bank of Azerbaijan has held a currency auction with the participation of the State Oil Fund.

According to the CBA, $14.9 million was sold at today’s auction ($49.3 million, or 76.8% less than in the previous auction).

"The demand from banks at the currency auction amounted to $14.9 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.

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