Banks increase demand at currency auction in Azerbaijan

12:34 - 28.10.2021

October 28, Fineko/abc.az. The Central Bank of Azerbaijan have conducted a currency auction with the participation of the State Oil Fund.

According to the CBA, $87.8 million was sold to banks at today’s auction on 28 October ($13 million or 17.38% more than in the previous auction).

"The demand from banks at the auction amounted to $87.8 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.