Banks increase demand at currency auction


July 7, Fineko/ The Central Bank of Azerbaijan held a currency auction with the participation of the State Oil Fund.

According to the CBA, $39 million was sold at a foreign exchange auction on 7 July ($500,000 or 1.30% more than at the last auction).

"The demand from banks at the currency auction amounted to $39 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.