BAKU, Azerbaijan, April, 27. The average demand for foreign currency at foreign exchange auctions organized by the Central Bank of Azerbaijan (CBA) amounted to 52.4 million manat ($30.8 million) in 2022, while the supply was $70 million, Trend reports via the annual report of the CBA.
According to the report, a total of 99 currency auctions were held in 2022, and in 80 percent of those, the supply was greater than demand.
"The participation of the CBA at auctions was associated with the purchase of foreign currency and the bank acquired $2 billion in 2022," the report said.
CBA suffered a net loss from the management of foreign exchange assets in the amount of $41.8 million in 2022.