Banks reduce demand by 25.4% at currency auction


June 23, Fineko/ The Central Bank of Azerbaijan has held a currency auction with the participation of the State Oil Fund.

According to the CBA, $40.3 million was sold at a foreign exchange auction on 23 June ($13.7 million or 25.37% less than at the previous auction.

"The demand from banks at the currency auction amounted to $40.3 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.