Central Bank of Azerbaijan holds regular currency auction

By Trend

Central Bank of Azerbaijan (CBA) held a regular currency auction with the participation of the Azerbaijani State Oil Fund (SOFAZ), Trend reports citing the CBA.

According to the regulator, the demand at the auction amounted to $38.5 million and was fully met.

The weighted average exchange rate was 1.7 AZN per 1 USD following the auction.

The CBA started holding foreign exchange auctions through the unilateral sale of foreign currency in competitive conditions from mid-January of 2017.