Banks lower demand at currency auction by 41%


May 24, Fineko/ The Central Bank of Azerbaijan has held a currency auction with the participation of the State Oil Fund (SOFAZ).

According to the CBA, $29.1 million was sold at today’s auction ($20.1 million or 40.85% less than in the previous auction).

"The demand from banks at the auction amounted to $29.1 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.