By Trend

The Central Bank of Azerbaijan (CBA) held a regular currency auction with the participation of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) on March 17, Trend reports citing the press service of CBA.

According to CBA, the demand at the auction amounted to $77.8 million and was fully granted.

The average weighted exchange rate of the manat to the US dollar amounted to 1.7 AZN/1 USD following the auction.

The CBAR started holding foreign exchange auctions through the unilateral sale of foreign currency in competitive conditions from mid-January 2017.