Baku, Azerbaijan, May 30
By Anvar Mammadov – Trend:
The Central Bank of Azerbaijan (CBA) does not intend to change the currency auction procedure, Elman Rustamov, CBA head, told reporters in Baku May 30.
"The auctions will be held twice a week as earlier,” Rustamov said. “The supply of currency will also remain stable."
Under the new mechanism, the official rate of manat is set, based on the weighted average rate in accordance with the transactions concluded with commercial banks in the interbank foreign exchange market and in auctions. The auctions are held in the format of the unilateral sale of currency.