17:51 - 13.02.2024

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February 13, Fineko/abc.az. "A record number of dollars have been sold at today’s auction,” ABC.AZ reports, quoting Milli Majlis MP Vugar Bayramov.

The parliamentarian noted that today's order of banks amounted to $151.1 million:

"In general, $370.9 million was sold at auctions in the first 13 days of this month. Today, numerous bids at the auction do not mean that 13 is considered an unsuccessful number, the record amount of sales once again confirms the growing demand for dollars in the foreign exchange market."

"The current exchange rate of the manat at currency exchange offices also indicates a sharp increase in demand for the dollar. Despite the fact that the official exchange rate remained stable, active exchange offices set the rate of purchase, not sale, of the dollar at 1.70 relative to the manat. Despite the high global oil prices, volatility in the foreign exchange market of Azerbaijan has increased. However, the analysis shows that the growth in demand is due not only to psychological factors," the MP noted.

According to Bayramov, despite the fact that there is high demand for dollars, it is also noteworthy that the Central Bank does not comment on this issue: "Strengthening communication by the regulator at this stage is very important."