CBA bought $122M on foreign exchange market in 8 months

In January-August 2023, the intervention of the Central Bank of Azerbaijan (CBA) in the foreign exchange market stood at $122 million, Report informs referring to the bank.

At 99% of foreign exchange auctions held by the CBA over eight months, supply exceeded demand.

In January-February of this year, at joint foreign currency auctions of the Central Bank and the State Oil Fund of the Republic of Azerbaijan (SOFAZ), foreign currencies worth $2.295 billion were sold.

In August alone, foreign currency sales amounted to $452 million, which is 2.6% more than a year ago.