Demand of banks at currency auction on 28 March has doubled

10:35 - 29.03.2023

March 29, Fineko/ The Central Bank of Azerbaijan (CBA), with the participation of the State Oil Fund, held a currency auction on 28 March.

The CBA informs that at today’s currency auction banks’ demand amounted to $96.3 million and was fully secured. This is $48.4 million or 2-fold more 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 a foreign exchange auction on 16 March, the CBA sold $47.9 million to banks.

The CBA also said in a statement that the high demand at the currency auction is conditioned with the fact that two auctions were not held last week because of the holiday.