BAKU: The Central Bank of Azerbaijan (CBA) held another currency auction on April 4, Trend reports.

According to CBA data, the auction’s demand was $64.5 million (a 34.12 percent decrease or $33.4 million over the previous auction) and was completely satisfied.

Meanwhile, at the previous currency auction, demand totaled $97.9 million.

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

To date, $1.948 billion has been purchased at currency auctions since the start of the year. The highest currency demand was reported at the auction conducted 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 and $498.3 million in March.

However, $3.836 billion was spent at currency auctions in 2023.

The CBA started conducting currency auctions by unilateral sale of foreign currency under competitive conditions in mid-January 2017.

Source: Trend News Agency