By Trend

Central Bank of Azerbaijan (CBA) held a regular currency auction with the participation of the Azerbaijani State Oil Fund (SOFAZ) on May 12, Trend reports citing the CBA.

According to the regulator, the demand at the auction amounted to $45.5 million and was fully met.

The weighted average exchange rate was 1.7 AZN per 1 USD following the auction.

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