Banks in Azerbaijan increase demand at currency auction


May 19, Fineko/ The Central Bank of Azerbaijan held a currency auction with the participation of the State Oil Fund.

According to the CBA, $49.2 million was sold at today’s currency auction ($10.7 million, or 27.79% more than in the previous auction).

"The demand from banks at the auction amounted to $49.2 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.