Banks doubled demand at currency auction


July 5, Fineko/ The Central Bank of Azerbaijan has held a currency auction with the participation of the State Oil Fund.

According to the CBA, $38.5 million was sold at today’s foreign exchange auction ($19.9 million, or 2.1-fold more than in the previous auction).

"The demand from banks at the currency auction amounted to $38.5 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.