Buying and selling rate of US dollar stabilizes in Azerbaijan

USD supply bought from Central Bank by commercial banks dropped to 50 million USD

Baku. 5 January. REPORT.AZ/ As a result of monitoring held by the Analytical Group of Report News Agency on currency exchange offices located in 28 May Street today, stabilization in buying and selling exchange rate of cash USD recorded. In most exchange offices, 1 USD purchase made 1,63 AZN, sale 1,65 AZN. In the first half of the day, selling exchange rate of USD made 1,66-1,67 AZN at exchange offices.

Notably, however, official exchange rate of Central Bank of Azerbaijan Republic (CBAR) declared 1,5610 AZN/USD for today, as a result of weakening of demand in currency auction held today, relative abundance is observed in currency market. Employees of currency exchange offices do not exclude gradual approach of AZN/USD exchange rate to CBAR official exchange rate as a result of reduction of demand for currency.

For information, CBAR has sold 50 million USD to commercial banks today. 

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