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Central Bank of Azerbaijan holds regular foreign exchange auction

Economy Materials 7 March 2023 17:06 (UTC +04:00)
Central Bank of Azerbaijan holds regular foreign exchange auction
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, March 7. The Central Bank of Azerbaijan has held a regular foreign exchange auction involving the State Oil Fund of Azerbaijan (SOFAZ), Trend reports via the Central Bank.

According to the bank, the demand at the auction amounted to $44.8 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 $51.7 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.

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