Banks in Azerbaijan reduce demand at currency auction


May 26, Fineko/ The Central Bank of Azerbaijan has conducted a currency auction with the participation of the State Oil Fund.

According to the CBA, $24 million was sold at today’s currency auction ($5.1 million, or 17.53% less than in the previous auction).

"The demand from banks at the auction amounted to $24.0 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.