BAKU, Azerbaijan, August 17. The Central Bank of Azerbaijan (CBA) held a regular currency auction with the participation of the State Oil Fund of Azerbaijan (SOFAZ) on August 17, 2023, Trend reports.
CBA data show that demand at the auction totaled $41 million (a decrease of 23 percent, or $12 million, from the previous auction) and was fully satisfied.
During the previous auction, the demand amounted to $54 million.
The average weighted exchange rate at the end of the auction amounted to 1.7 AZN per USD based on the auction results.
Since the beginning of the year, over $2 billion has been purchased at currency auctions. The maximum demand for currency was recorded at the auction held on March 28, 2023, at $96 million.
The average demand at currency auctions organized by the CBA last year was $52 million, while the supply was $70 million.