BAKU, Azerbaijan, June 11. The Central Bank of Azerbaijan (CBA) held another currency auction on June 11, Trend reports.
CBA data indicates that the demand at the auction amounted to $64.5 million (33.85 percent or $33 million reduction compared to the previous auction) and was fully satisfied.
In the meantime, the demand at the previous currency auction reached a whopping $97.5 million.
The weighted average exchange rate at the end of the auction amounted to 1.7 AZN/1 USD.
Since the beginning of the year, $3.2 billion has been purchased at currency auctions. 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.
To note, $3.836 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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