BAKU, Azerbaijan, July 25. The Central Bank of Azerbaijan (CBA) held another currency auction on July 25, Trend reports.
The data from CBA indicates that the demand at the auction amounted to $55.2 million (a decline of 32.68 percent or $26.8 million compared to the previous auction) and was fully satisfied.
To note, the demand at the previous currency auction amounted to $82 million.
The weighted average exchange rate at the end of the auction amounted to 1.7 AZN/1 USD.
A total of $4.067 billion has been purchased at currency auctions since the beginning of the year. The maximum demand for currency was recorded at the auction on February 13, 2024 - $151.1 million. In January 2024, $417.1 million was purchased at currency auctions; in February - $870.6 million; in March - $498.3 million; in April - $623.4 million; in May - $558.6 million; and in June - $581 million.
About $3.8 billion was purchased at currency auctions in 2023.
The CBA started conducting currency auctions by unilaterally selling foreign currency under competitive conditions in mid-January 2017.
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