Demand at currency auction of Azerbaijan’s central bank goes up

BAKU: The Central Bank of Azerbaijan (CBA) held yet another currency auction on September 5, Trend reports via CBA. According to the CBA's data, the auction saw a demand of $65 million, which was fully satisfied, and this marked a 0.15 percent increase, equivalent to $100,000, compared to the previous auction. Meanwhile, the demand at the previous currency auction amounted to $64.9 million. The weighted average exchange rate at the end of the auction amounted to 1.7 AZN/1 USD. A total of $4.925 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, and $649.1 million in August. To note, a total of $3.836 billion was purchased at currency auctio ns in 2023. The CBA started conducting currency auctions by unilateral sale of foreign currency under competitive conditions in mid-January 2017. Source: Trend News Agency