Azerbaijan's Central Bank holds regular foreign exchange auction
By Trend
The Central Bank of Azerbaijan (CBA) held a regular currency auction involving the State Oil Fund of Azerbaijan (SOFAZ) on October 4, Trend reports referring to the CBA.
According to the bank, the demand of local banks for foreign currency amounted to $37.1 million and was fully satisfied.
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.
---
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!