Taleh Kazimov: In 80% of currency auctions, supply exceeded demand last year

In 2022, the supply exceeded the demand in 80% of the currency auctions held by the Central Bank of Azerbaijan (CBA), CBA chairman Taleh Kazimov told a press conference, Report informs.

He said that the Central Bank conducted a purchase-oriented intervention to ensure the exchange rate's stability: "The volume of this intervention was $2.048 billion. According to our forecasts, the projected positive balance in the current account of the balance of payments will ensure exchange rate stability this year."