BAKU: The Central Bank of Azerbaijan (CBA) has held the next currency auction today, Trend reports.

CBA reported that the auction’s demand was $75.1 million, up 2.18 percent or $1.6 million from the previous auction, and was fully met.

Meanwhile, at the previous currency auction, demand totaled $73.5 million.

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

To date, $2.558 billion has been purchased at currency auctions since the start of the year. The highest currency demand was reported at the auction held on February 13, 2024, at $151.1 million. In January 2024, $417.1 million was spent at currency auctions, followed by $870.6 million in February, a total of $498.3 million in March, and $623.4 million in April.

To note, a total of $3.836 billion was purchased at currency auctions in 2023.

The CBA began conducting currency auctions through the unilateral sale of currency in competitive conditions in mid-January 2017.

Source: Trend News Agency