Banks lower demand at foreign exchange auction by 46%

12:51 - 7 February 2023

February 7, Fineko/abc.az. The Central Bank of Azerbaijan has held a currency auction with the participation of the State Oil Fund.

According to the CBA, at today’s foreign exchange auction the demand of banks amounted to $14.8 million and was fully secured. This is $12.7 million (46.18%) less than at the last auction.

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

At the auction on 2 February, the CBA sold $27.5 million to banks.