BAKU, Azerbaijan, September 5. The Central Bank of Azerbaijan (CBA) held yet another currency auction on September 5, Trend reports via CBA.
According to the CBA's data, the auction saw a demand of $65 million, which was fully satisfied, and this marked a 0.15 percent increase, equivalent to $100,000, compared to the previous auction.
Meanwhile, 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 $4.925 billion has been purchased at currency auctions since the beginning of the year. The maximum demand for currency was recorded at the auction held on February 13, 2024: $151.1 million.
Furthermore, about $417.1 million was purchased at currency auctions in January 2024, $870.6 million in February, $498.3 million in March, $623.4 million in April, and $558.6 million in May. $581 million in June, $597.1 million in July, and $649.1 million in August.
To note, a total of $3.836 billion was purchased at currency auctions in 2023.
The CBA started conducting currency auctions by unilateral sale of foreign currency under competitive conditions in mid-January 2017.