On February 1, the 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 auction was $ 50.8 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 the Currency Auctions through a unilateral sale of currency in the competitive conditions of 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 population’s population in the currency against the background of the failure of OPEC transactions +, which caused a sharp drop in oil prices.