2024-03-04 13:22:59
On February 29, the Central Bank of Azerbaijan (CBA) held another foreign exchange auction, Day.Az reported on Thursday with reference to the CBA.
CBA data shows that demand at the auction amounted to US$80 million (a decrease of 23.88 percent or US$25.1 million from the previous auction) and was fully satisfied.
Note that at the previous foreign exchange auction, demand amounted to $105.1 million.
Since the beginning of the year, $1.287 billion has been purchased at foreign exchange auctions. The maximum demand for currency was recorded at the auction held on February 13, 2024 – $151.1 million. In January 2024, $417.1 million was purchased at foreign exchange auctions, and $870.6 million in February.
Let us recall that in 2023, $3.836 billion was purchased at foreign exchange auctions.
The CBA began conducting currency auctions through the unilateral sale of currency in competitive conditions in mid-January 2017.
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