Banks reduce demand at currency auction by 39%

12:37 - 7.11.2023


November 7, Fineko/abc.az. The Central Bank of Azerbaijan has held a currency auction with the participation of the State Oil Fund.

According to the CBA, at the currency auction on November 7, the demand of banks amounted to $35.2 million and was fully secured. This is $22.2 million, or 38.7% less than at the last auction.

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

At a currency auction on November 2, the CBA sold $57.4 million to banks.