BAKU, Azerbaijan, December 28. The Central Bank of Azerbaijan (CBA) held a regular currency auction with the participation of the State Oil Fund of Azerbaijan (SOFAZ) on December 28, 2023, Trend reports, referring to the CBA.
The CBA data shows that demand at the auction amounted to $77.8 million (a decrease of 2.63 percent or $2.1 million compared to the previous auction) and was fully satisfied.
At the previous currency auction, the demand amounted to $79.9 million.
The weighted average exchange rate at the end of the auction amounted to 1.7 AZN/1 USD.
A total of $3.836 billion has been purchased at currency auctions since the beginning of the year. The maximum demand for currency was recorded at the auction held on March 28, 2023, for $96.3 million.
The average demand at the currency auctions organized by the CBA in 2022 was $52.4 million, while the supply was $70 million.
The CBA started conducting currency auctions through the unilateral sale of foreign currency under competitive conditions in the middle of January 2017.
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