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Central Bank of Azerbaijan holds regular foreign exchange auction

Economy Materials 31 January 2023 16:07 (UTC +04:00)
Central Bank of Azerbaijan holds regular foreign exchange auction
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, January 31. The Central Bank of Azerbaijan held a regular foreign exchange auction involving the State Oil Fund of Azerbaijan (SOFAZ) on January 31, Trend reports via the Central Bank.

According to the bank, the demand at the auction amounted to $29.5 million and was fully satisfied.

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

The Central Bank has begun to conduct foreign exchange auctions through a one-way sale of currency in a competitive environment since mid-January 2017.

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