Foreign currency demand of Azerbaijani banks declines
By Trend
The Central Bank of Azerbaijan (CBA) held a new foreign exchange auction with the participation of the State Oil Fund of Azerbaijan (SOFAZ) on July 29, 2021, Trend reports referring to a source in the CBA.
According to the source, the demand from Azerbaijani banks at the auction decreased by 26.8 percent compared to the previous indicator and was fully met.
During the auction, the CBA sold $49.9 million to the local banks.
At the end of the auction, the weighted average rate of the manat to the US dollar amounted to 1.7 AZN/USD.
The first foreign exchange auction for a long time was held with the participation of SOFAZ on March 10, 2020, during which Azerbaijani banks purchased $323.2 million.