The Central Bank of Azerbaijan held a regular foreign exchange auction involving the State Oil Fund of Azerbaijan (SOFAZ) on January 17, Trend reports via the Central Bank.
According to the bank, the demand at the auction amounted to $18.7 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.
