The Central Bank of Azerbaijan (CBA) has held a regular foreign exchange auction involving the State Oil Fund of Azerbaijan (SOFAZ), Trend reports via the Central Bank.
According to the bank, the demand at the auction amounted to $51.2 million and was fully met.
The average weighted exchange rate of the Azerbaijani manat to the US dollar amounted to 1.7 AZN/1 USD based on the results of the auction.
The Central Bank has begun to conduct foreign exchange auctions through a one-way sale of currency in a competitive environment since mid-January 2017.
