Banks in Azerbaijan reduce demand at currency auction

12:47 - 31.03.2022


March 31, Fineko/abc.az. The Central Bank of Azerbaijan held a currency auction with the participation of the State Oil Fund.

According to the CBA, $72.2 million was sold at today’s foreign exchange auction ($32.8 million, or 31.24% less than in the previous auction).

"The demand from banks at the currency auction amounted to $72.2 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.