BAKU, Azerbaijan, March 16. The Central Bank of Azerbaijan 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 $47.9 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 $60.3 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.