BAKU, Azerbaijan, January 16. Demand at the currency auction of the Central Bank of Azerbaijan (CBA) held today has grown, Trend reports via CBA.
This indicator amounted to $71.4 million (up 4.54 percent or $3.1 million compared to the previous auction) and was fully satisfied.
In the meantime, at the previous currency auction, the demand amounted to $68.3 million.
The conclusive weighted average exchange rate at the termination of the auction was established at 1.7 AZN per 1 USD.
The peak demand for currency this fiscal year was documented during the auction conducted on January 7, amounting to $73.5 million.
A cumulative sum of $7.09 billion has been transacted at currency auctions since the commencement of the current fiscal year.
About $417.1 million were purchased at currency auctions in January 2024, $870.6 million in February, $498.3 million in March, $623.4 million in April, $558.6 million in May, $581 million in June, $597.1 million in July, $649.1 million in August, $582.87 million in September, $738.7 million in October, $487.1 million in November, and $492.2 million in December.
In the fiscal landscape of 2023, a staggering aggregate of $3.8 billion was transacted through currency auctions, reflecting significant market dynamics and liquidity flows.
The CBA started conducting currency auctions by unilateral sale of foreign currency under competitive conditions in mid-January 2017.
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