Banks reduce demand at foreign exchange auction by 3.3%

12:38 - 30.08.2022

August 30, Fineko/abc.az. The Central Bank of Azerbaijan (CBA) has held a currency auction with the participation of the State Oil Fund.

The CBA informed that $63.9 million was sold at the currency auction on August 30. This is $2.2 million (3.33%) less than at the last auction.

“Demand from banks at the currency auction amounted to $63.9 million and was provided in full,” the CBA informed.

As a result of the auction, the weighted average rate of the manat formed at the level of 1.7000 AZN/USD.

In August 2022, $440.6 million worth of foreign currency was sold at foreign exchange auctions in Azerbaijan, which is 14% less than in August 2021.

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