BAKU: The Central Bank of Azerbaijan (CBA) held another currency auction on August 8, Trend reports.

The data from CBA indicates that the demand at the auction amounted to $64.9 million (a decline of 13.24 percent or $9.9 million compared to the previous auction) and was fully satisfied.

The demand at the previous currency auction amounted to $74.8 million.

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

A total of $4.067 billion has been purchased at currency auctions since the beginning of the year. The maximum demand for currency was recorded at the auction on February 13, 2024 – $151.1 million. In January 2024, $417.1 million was purchased at currency auctions; in February – $870.6 million; in March – $498.3 million; in April – $623.4 million; in May – $558.6 million; in June – $581 million: and in July – $597.1 million.

About $3.8 billion was purchased at currency auctions in 2023.

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

Source : Trend News Agency