BAKU, Azerbaijan, February 4. Bid exceeded demand in the currency market of Azerbaijan last year, Chairman of the Central Bank of Azerbaijan (CBA) Taleh Kazimov said at a press conference held today on the parameters of the interest rate corridor, Trend reports.
According to him, the average bid at an auction reached an impressive $70 million, contrasted by a demand of $54 million.
"The same trend was observed in cash currency transactions of individuals—$423 million was purchased by banks. This shows that the population sold more currency than it bought. At the same time, the CBA sold $400 million less currency at currency auctions compared to the previous period," he added.
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