Banks reduced demand at currency auction by 27.4%

12:38 - 3.11.2022

November 3, Fineko/abc.az. The Central Bank of Azerbaijan has conducted a currency auction with the participation of the State Oil Fund.

According to the CBA, $47.6 million was sold at today’s auction ($18 million or 27.44% less than at the last auction). At the auction on 1 November, the Central Bank sold $65.6 million worth of currency to banks.

"The demand from banks at the currency auction amounted to $47.6 million and was fully secured," the CBA said in a statement.

As a result of the auction, the weighted average exchange rate of the manat was formed at the level of 1.7000 AZN/USD.