By Trend

The Central Bank of Azerbaijan has held a regular foreign exchange auction involving the State Oil Fund of Azerbaijan (SOFAZ), Trend reports via the Central Bank.

According to the bank, the demand at the auction amounted to $35 million and was fully met.

The average weighted exchange rate of the Azerbaijani manat to the US dollar amounted to 1.7 AZN/1 USD based on the results of the auction.

The Central Bank has begun to conduct foreign exchange auctions through a one-way sale of currency in a competitive environment since mid-January 2017.