BAKU, Azerbaijan, August 4. The Central Bank of
Azerbaijan (CBA) has held a regular currency auction with the
participation of the State Oil Fund of Azerbaijan (SOFAZ), Trend reports referring to
the bank.
According to the CBA, the foreign currency demand of local banks
amounted to $38.3 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.
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