BAKU, Azerbaijan, October 8. The Central Bank of Azerbaijan (CBA) held another currency auction on October 8.
The data obtained by Trend from the country's central bank shows that the demand at the auction amounted to $73.6 million (6.84 percent or $5.4 million reduction compared to the previous auction) and was fully satisfied.
Meanwhile, the demand at the previous currency auction amounted to $79 million.
The weighted average exchange rate at the end of the auction amounted to 1.7 AZN/1 USD.
A total of $5.604 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; in July - $597.1 million; in August - $649.1 million; and in September - $582.87 million.
To note, 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 the middle of January 2017.