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Demand exceeded supply for 11 times at today's currency auction
Finance
- 09 August, 2016
- 10:00
Baku. 9 August. REPORT.AZ/ Demand of the commercial banks for US-dollars has exceeded actual supply about for 11 times at today's currency auction of the State Oil Fund of Azerbaijan Republic (SOFAZ), Report was told at the banking circles.
According to the information, the banks intended to buy over 550 mln USD at the auction. As a result, 50 mln USD, auctioned by SOFAZ, have been sold to 29 banks in full.
Analytical Group of Report News Agency considers that currency supply is expected to increase to 100-200 mln USD at the next auctions: 'Then a little value gain of AZN before USD is possible'.
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