BAKU, Azerbaijan, March 28. The Central Bank of Azerbaijan (CBA) has held further currency auction, Trend reports via CBA.
The data of CBA shows that the demand at the auction amounted to $94.6 million (an increase of 1.72 percent or $1.6 million compared to the previous auction) and was fully met.
To recall, demand at the previous currency auction was $93 million.
The weighted average exchange rate at the end of the auction was
1.7 AZN/1 USD.
Since the start of the year, currency auctions have raised a total
of $1.78 billion. The highest currency demand was reported at the
auction conducted on February 13, 2024, at $151.1 million. $417.1
million was purchased at currency auctions in January 2024,
followed by $870.6 million in February.
However, $3.8 billion was acquired at currency auctions in
2023.
To note, the CBA has started conducting currency auctions utilizing unilateral sales of foreign currency under competitive conditions since mid-January 2017.
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