baku: The Central Bank of Azerbaijan (CBA) held yet another currency auction on October 29, Trend reports via CBA.

According to Trend News Agency, the auction saw a demand of $88.4 million, which was fully satisfied, and this marked a 9.41 percent increase, equivalent to $7.6 million, compared to the previous auction. Meanwhile, the demand at the previous currency auction amounted to $80.8 million.

The weighted average exchange rate at the end of the auction amounted to 1.7 AZN/1 USD. A total of $6.05 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: $151.1 million.

Furthermore, about $417.1 million was purchased at currency auctions in January 2024, $870.6 million in February, $498.3 million in March, $623.4 million in April, and $558.6 million in May. $581 million in June, $597.1 million in July, $649.1 million in August, and $582.87 million in September. Note that a total of $3.836 billi
on was purchased at currency auctions in 2023.

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