Central Bank to reduce US-dollar exchange rate today

Baku. 11 March. REPORT.AZ/ Today, the State Oil Fund of Azerbaijan Republic (SOFAZ) through regular auctions of the Central Bank of Azerbaijan (CBAR) has put up for sale $200 million USD, while the actual demand of commercial banks amounted to 68 million USD (34%).

Report informs, the transaction concluded at the auction at the rate of 1,6410-1,6420 AZN/USD. As a result, banks bought 68 million USD, which shows a decline in demand by 3-4 times in comparison with previous auctions.

Analytical Group of Report News Agency expects that the Central Bank will reduce the official dollar exchange rate on March 14 by nearly 0.2% and the rate will be set it in the range of 1,6410-1,6420 AZN/USD.