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Demand at Azerbaijani Central Bank’s currency auction rises

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

The CBA data shows that the demand at the auction amounted to $97.9 million (an increase of 3.49 percent or $3.3 million compared to the previous auction) and was fully satisfied.

Meanwhile, the demand amounted to $94.6 million at the previous currency auction.

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

Additionally, $1.8 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, at $151.1 million. A total of $417.1 million was purchased at currency auctions in January 2024, in February – $870.6 million, and in March – $498.3 million.

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

Source: Trend News Agency