BAKU, Azerbaijan, January 25. The Central Bank of Azerbaijan (CBA) held another currency auction with the State Oil Fund of Azerbaijan (SOFAZ) participation, Trend reports, referring to CBA.
The CBA data shows that demand at the auction amounted to $42.8 million (a decrease of 2.51 percent or $1.1 million compared to the previous auction) and was fully satisfied.
To note, the demand at the previous currency auction amounted to $43.9 million.
The weighted average exchange rate at the end of the auction amounted to 1.7 AZN/1 USD.
Since the beginning of the year, $352.9 million has been purchased at currency auctions. The maximum demand for currency was recorded at the auction held on January 11, 2024 - $80.4 million.
Meanwhile, in 2023, $3.8 billion was purchased at currency auctions.
The average demand at currency auctions organized by the CBA in 2022 amounted to $52.4 million, while the supply amounted to $70 million.
Moreover, the CBA started conducting currency auctions by one-way sale of currency in competitive conditions in mid-January 2017.
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