Tokyo, 12 January, /AJMEDIA/
The Central Bank of Azerbaijan (CBA) conducted a currency auction with the participation of the State Oil Fund of Azerbaijan (SOFAZ) on January 11, 2024, AJMEDIA reports.
According to the CBA, demand at the auction totaled $80.4 million (up 7.34 percent, or $5.5 million, from the previous auction) and was fully met.
At the previous currency auction, the demand amounted to $74.9 million.
The weighted average exchange rate after the auction amounted to 1.7 AZN/1 USD.
Since the beginning of the year, $155.3 million have been purchased at currency auctions. The maximum demand for foreign currency was recorded at the auction on January 11, 2024 – $80.4 million.
Meanwhile, $3.8 billion was bought at currency auctions in 2023.
The average demand at currency auctions organized by the CBA in 2022 amounted to $52.4 million, while the supply amounted to $70 million.
The CBA started conducting foreign exchange auctions through the unilateral sale of foreign currency on competitive terms in the middle of January 2017.