2024-04-09 22:34:07
On April 4, 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$64.5 million (a decrease of 34.12 percent or US$33.4 million from the previous auction) and was fully satisfied.
Let us note that at the previous foreign exchange auction the demand amounted to $97.9 million.
The weighted average exchange rate following the auction was 1.7 AZN/1 USD.
Since the beginning of the year, $1.948 billion have 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, in February – $870.6 million, in March – 498.3
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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