BAKU: The Central Bank of Azerbaijan (CBA) held another currency auction on April 18, Trend reports.

The CBA data shows that the demand at the auction amounted to $79.8 million (an increase of 10.22 percent or $7.4 million compared to the previous auction) and was fully satisfied.

Meanwhile, at the previous currency auction, the demand amounted to $72.4 million.

The weighted average exchange rate at the end of the auction amounted to 1.7 AZN/1 USD.

Since the beginning of the year, $2.1 billion has been purchased at currency auctions. The maximum demand for currency was recorded at the auction held on February 13, 2024 – $151.1 million. Around $417.1 million were purchased at currency auctions in January 2024, $870.6 million in February, and $498.3 million in March.

To note, $3.8 billion was purchased at currency auctions in 2023.

The CBA started conducting currency auctions by unilaterally selling foreign currency under competitive conditions in mid-January 2017.

Source: Trend News Agency