Demand for dollar fell sharply in currency auction

Economic Department
Author

Baku. 8 September. REPORT.AZ/ Demand for US-dollar at today's auction carried out by the State Oil Fund of Azerbaijan (SOFAZ) and Central Bank of Azerbaijan Republic (CBA) was 330-340 mln USD. 

Report informs referring to the banking circles.

However, currency put up for sale at auction was a bit less - 300 mln USD. 200 mln USD put by SOFAZ, 100 mln. USD - CBA.

Demand of commercial banks was met with a deficit of about 10-13 % and all of these funds were sold. The upper limit of the exchange rate of the US dollar was 1.6444 AZN/USD.

Compared to the previous auctions, commercial banks' demand for dollar fell by about two times.

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