Report: Cash USD exchange rate may reduce today

Baku. 7 January. REPORT.AZ/ Today, January 7, at 11:45 a.m. Baku time, Central Bank of Azerbaijan Republic (CBAR) is expected to hold currency auction in interbank organized currency market.

Report informs, after CBAR's transition to floating exchange rate on December 21, it began to sell currency to banks through auctions. Yesterday, on January 6, CBAR suspended auction for the first time. Immediately after that purchase-sale exchange rate of cash USD rose from 1,63-1,64 AZN/USD to 1,65-1,70 AZN/USD in internal market.

Analytical Group of Report News Agency believes, after today's auction purchase-sale exchange rate will again reduce and drop to 1,63-1,66 AZN/USD is possible.

Notably, from January 11, Azerbaijan State Oil Fund (SOFAZ) will start currency sale at interbank market.