Central Bank sets manat rate for May 6
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The official exchange rate of the Azerbaijani manat against the US dollar was set at 1.51 manats for May 6,Azerbaijan's Central Bank reported on May 5.
Manat's rate against the US dollar has dropped by 0.12 percent as compared to May 5.
The State Oil Fund of Azerbaijan (SOFAZ) sold $40.8 million to seven banks through an auction held by the Central Bank May 5.
Meanwhile, the Central Bank acquired $5 million at the auction.
SOFAZ was offering $50 million for sale through the auction. It will continue the currency sale through auctions throughout the year.
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