BAKU, Azerbaijan, May 23. The Central Bank of Azerbaijan (CBA) has held the next currency auction today, marking a decrease in demand, Trend reports.
The CBA data shows that the auction's demand was $69.6 million, down to 10.65 percent or $8.3 million over the previous auction, and was completely met.
Meanwhile, at the previous currency auction, demand totaled $77.9 million.
The weighted average exchange rate at the end of the auction was 1.7 AZN/1 USD.
To date, $2.857 billion has been purchased at currency auctions since the start of the year. The highest currency demand was reported at the auction held on February 13, 2024, at $151.1 million. In January 2024, $417.1 million was spent at currency auctions, followed by $870.6 million in February, $498.3 million in March, and $623.4 million in April.
To note, a total of $3.836 billion was purchased at currency auctions in 2023.
The CBA began conducting currency auctions through the unilateral sale of currency in competitive conditions in mid-January 2017.
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