BAKU, Azerbaijan, August 29. The Central Bank of Azerbaijan (CBA) held another currency auction on August 29, Trend reports.
The data of CBA demonstrates that the demand at the auction amounted to $80.4 million (an increase of 6.07 percent or $4.6 million compared to the previous auction) and was fully satisfied.
The demand at the previous currency auction amounted to $75.8 million.
The weighted average exchange rate at the end of the auction amounted to 1.7 AZN/1 USD.
A total of $4.7 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.
A sum of $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, about $3.8 billion were purchased at currency auctions in 2023.
The CBA started conducting currency auctions by unilateral sale of foreign currency in competitive conditions in mid-January 2017.