Banks lower demand at currency auction


January 21, Fineko/ The Central Bank of Azerbaijan has conducted a currency auction with the participation of the State Oil Fund.

According to the CBA, $99.7 million was sold at today’s auction on 21 January ($16.7 million, or 14.35% less than in the previous auction).

"The demand from banks at the auction amounted to $99.7 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.