BAKU, Azerbaijan, October 29. The Central Bank
of Azerbaijan (CBA) held yet another currency auction on October
29, Trend reports via CBA.
According to the CBA’s data, the auction saw a demand of $88.4
million, which was fully satisfied, and this marked a 9.41 percent
increase, equivalent to $7.6 million, compared to the previous
auction.
Meanwhile, the demand at the previous currency auction amounted
to $80.8 million.
The weighted average exchange rate at the end of the auction
amounted to 1.7 AZN/1 USD.
A total of $6.05 billion has been purchased at currency auctions
since the beginning of the year. The maximum demand for currency
was recorded at the auction held on February 13, 2024: $151.1
million.
Furthermore, about $417.1 million was purchased at currency
auctions in January 2024, $870.6 million in February, $498.3
million in March, $623.4 million in April, and $558.6 million in
May. $581 million in June, $597.1 million in July, $649.1 million
in August, and $582.87 million in September.
Note that a total of $3.836 billion was purchased at currency
auctions in 2023.
The CBA started conducting currency auctions by unilateral sale
of foreign currency under competitive conditions in mid-January
2017.
