BAKU, Azerbaijan, January 11. 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, Trend 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.
