Baku: No currency auction has been held at the Central Bank over the past two months, said CBA Chairman Taleh Kazimov during a press conference today, APA-Economics reports.

According to Azeri-Press News Agency, Kazimov noted that the supply of foreign currency in the market sharply exceeded demand. As a result, the CBA intervened in the foreign exchange market in April, leading to the CBA's reserves reaching $12.7 billion. He mentioned that similar trends are being observed in the cash market, where the supply continues to surpass demand.

Kazimov anticipates that the current situation in the foreign exchange market will persist over the next two to three months. He suggested that further intervention by the CBA in the foreign exchange market might occur again at the end of the year.