BAKU, Azerbaijan, November 5. The Central Bank of Azerbaijan (CBA) held yet another currency auction on November 5, Trend reports via CBA.
According to the CBA's data, the auction saw a demand of $69.3 million, which was fully satisfied, and this marked a 5 percent increase, equivalent to $3.3 million, compared to the previous auction.
Meanwhile, the demand at the previous currency auction amounted to $66 million.
The weighted average exchange rate at the end of the auction amounted to 1.7 AZN/1 USD.
Since the start of the year, currency auctions have sold for a total of $6.1 billion. The auction on February 13, 2024 recorded the highest demand for currency at $151.1 million.
Moreover, currency auctions saw the purchase of approximately $417.1 million 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, $649.1 million in August, $582.87 million in September, and $738.7 million in October.
Note that a total of $3.836 billion was purchased at currency auctions in 2023.
The CBA began conducting currency auctions by unilaterally selling foreign currency under competitive conditions in mid-January 2017.
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