BAKU, Azerbaijan, March 29. The Central Bank of Azerbaijan (CBA) held another currency auction with the participation of the State Oil Fund of Azerbaijan (SOFAZ), Trend reports referring to the CBA.
According to the CBA, the demand of local banks for foreign currency amounted to $105 million and was fully met.
The average weighted exchange rate of the manat to the US dollar amounted to 1.7 AZN/1 USD based on the results of the auction.
The relatively high demand at the auction resulted from pent-up demand accumulated due to holidays.
The CBA sold $77.8 million to banks at the previous auction held on March 17.