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Azerbaijan's Central Bank holds regular foreign exchange auction

Economy Materials 21 June 2022 16:32 (UTC +04:00)
Azerbaijan's Central Bank holds regular foreign exchange auction
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, June 21. The Central Bank of Azerbaijan (CBA) held another currency auction involving the State Oil Fund of Azerbaijan (SOFAZ) on June 21, Trend reports referring to the CBA.

According to the CBA, the demand of local banks for foreign currency amounted to $54 million and was fully met.

The average weighted exchange rate of the manat to the US dollar amounted to 1.7 AZN/1 USD based on the results of the auction.

The CBA started holding foreign exchange auctions through the unilateral sale of foreign currency in competitive conditions from mid-January 2017.

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