Azerbaijan transits to full "floating exchange rate" from today

Baku. 12 January. REPORT.AZ/ Central Bank of Azerbaijani (CBA) from today will apply new rules for foreign exchange auction. Report was told in banking circles, today's auction will start at 12: 00 and end at 12: 45.A total of 75 mln USD will be sold. Dollar will be sold to commercial banks in the organized market on a "best offer".

Also, according to the new rules, then the ECB will announce the amount of funds in advance.

From next week auctions will be held on Mondays, Wednesdays and Fridays.

Along 4% margin for commercial banks in determining the rate of purchase and sale has been canceled.

Notably, the official exchange rate of the US dollar for today is 1.7742 AZN / USD.