Banks lower demand by 10.7% at currency auction

12:42 - 23.05.2024

May 23, Fineko/ The Central Bank of Azerbaijan (CBA), with the participation of the State Oil Fund, held a currency auction.

According to the CBA, at the currency auction on May 23, the demand of banks amounted to $69.6 million and was fully secured. This is $8.3 million (10.7%) less than at the last auction.

At a foreign exchange auction on May 21, the Central Bank sold $77.9 million to banks.

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