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Azerbaijani Central Bank reveals volume of foreign currency purchases

Finance Materials 16 September 2022 16:29
Baku, Azerbaijan Trend News Agency Kamran Gasimov
Azerbaijani Central Bank reveals volume of foreign currency purchases

Central Bank of Azerbaijan (CBA) purchased foreign currency in the amount of $606.7 million from January through August 2022, Trend reports via CBA.

"At the currency auctions organized by the Central Bank, there is a tendency to exceed supply over demand. In general, in 77 percent of the auctions held since the beginning of this year, supply has exceeded demand. As a result, the State Oil Fund (SOFAZ) has significant savings in foreign exchange resources," the CBA said.

CBA purchased foreign currency in the amount of $437.8 million from April through August 2022.

Central Bank of Azerbaijan purchased foreign currency in the amount of $245- million as part of interventions in the foreign exchange market.

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