BAKU, Azerbaijan, February 28. The Central Bank of Azerbaijan held a regular foreign exchange auction involving the State Oil Fund of Azerbaijan (SOFAZ) on February 28, Trend reports via the Central Bank.
According to the bank, the demand at the auction amounted to $42.7 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.
During the previous auction, the demand amounted to $61.6 million.
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.