...

Currency auction at Central Bank of Azerbaijan sees increase in demand

Finance Materials 13 August 2024 13:28 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
Read more

BAKU, Azerbaijan, August 13. The Central Bank of Azerbaijan (CBA) held another currency auction on August 13, Trend reports.

The data from CBA indicates that the demand at the auction amounted to $80.6 million (an increase of 24.19 percent or $15.7 million compared to the previous auction) and was fully satisfied.

The demand at the previous currency auction amounted to $64.9 million.

The weighted average exchange rate at the end of the auction amounted to 1.7 AZN/1 USD.

A total of $4.426 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; in June - $581 million: and in July - $597.1 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.

Stay up-to-date with more news on Trend News Agency's WhatsApp channel

Tags:
Latest

Latest