BAKU, Azerbaijan, April 4. The Central Bank of Azerbaijan (CBA) has held a regular foreign exchange auction involving the State Oil Fund of Azerbaijan (SOFAZ), Trend reports via the CBA.
According to the bank, the demand at the auction amounted to $60.3 million and was fully met.
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 $65.4 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.