CBA discloses amount of foreign currency bought by local banks
By Trend
The Central Bank of Azerbaijan (CBA) held a foreign exchange auction with the participation of the State Oil Fund of Azerbaijan (SOFAZ), during which Azerbaijani banks bought $70.7 million, Trend reports citing CBA.
According to CBA, the banks’ demand at the auction amounted to $70.7 million and was fully met.
As a result of the auction, the weighted average rate of the manat to the US dollar amounted to 1.7 AZN / USD.
In accordance with SOFAZ’s data, from January through August 2020, SOFAZ sold the foreign currency in the amount of $5.4 billion at currency auctions, which is by 25 percent more compared to the same period of last year.
SOFAZ plans to sell foreign currency worth $6.8 billion at currency auctions this year.
The CBA began to hold foreign exchange auctions through unilateral sale of foreign currency in competitive conditions since January 2017.
---
Follow us on Twitter @AzerNewsAz
SOFAZ plans to sell foreign currency worth $6.8 billion at currency auctions this year.
The CBA began to hold foreign exchange auctions through unilateral sale of foreign currency in competitive conditions since January 2017.
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!