Azerbaijan's CBA held no currency auctions in March–April

The Central Bank of Azerbaijan (CBA) did not hold any currency auctions in March and April 2026, CBA Governor Taleh Kazimov stated at a press conference on May 6, Report informs.

The governor explained that the reason was an excess of supply over demand in the foreign exchange market: "Therefore, in April, we carried out a purchase‑oriented intervention of $1 billion. We are observing the continuation of de‑dollarization processes. As of March, the dollarization level of resident individuals' deposits fell to 37–38%, which is a 2.1 percentage point decrease compared to the beginning of the year. Overall, both in the cash and non‑cash currency markets, we see growing confidence in the manat and stable expectations. Most likely, the situation will remain unchanged over the next 2–3 months. By the end of the year, another purchase‑oriented intervention may be possible."