The Central Bank of Azerbaijan (CBA) held another currency auction on July 25, Trend reports.

The data from CBA indicates that the demand at the auction amounted to $55.2 million (a decline of 32.68 percent or $26.8 million compared to the previous auction) and was fully satisfied.

To note, the demand at the previous currency auction amounted to $82 million.

The weighted average exchange rate at the end of the auction amounted to 1.7 AZN/1 USD.

A total of $4.067 billion has been purchased at currency auctions since the beginning of the year. The maximum demand for currency was recorded at the auction on February 13, 2024 – $151.1 million. In January 2024, $417.1 million was purchased at currency auctions; in February – $870.6 million; in March – $498.3 million; in April – $623.4 million; in May – $558.6 million; and in June – $581 million.

About $3.8 billion was purchased at currency auctions in 2023.

The CBA started conducting currency auctions by unilaterally selling foreign currency under competitive
conditions in mid-January 2017.

Source: Trend News Agency