Second-December Central Bank of Azerbaijan (CBA) conducted another currency auction for banks with the participation of the State Oil Fund.
According to HaqQin.az, with reference to the CBA website, the demand of banks on the currency at the auction amounted to $ 100.7 million and was completely satisfied.
According to the results of the auction, the weighted average exchange rate of manat to the dollar amounted to 1.7 manat / $ 1.
Note that to carry out currency auctions through a unilateral sale of currency in competitive conditions, the CBA has begun from January 2017. In March last year it was decided to carry out extraordinary foreign currency auctions in connection with the increased supply of the population on the currency against the background of the depreciation of OPEC +, which caused a sharp drop in oil prices.