Banks increased demand at currency auction


June 30, Fineko/ The Central Bank of Azerbaijan has held a currency auction with the participation of the State Oil Fund.

According to the CBA, $18.6 million was sold at a foreign exchange auction on 30 June ($7 million, or 60.34% more than in the previous auction).

"The demand from banks at the currency auction amounted to $18.6 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.

In June 2022, $278.3 million was sold at currency auctions.