In 2017 Central Bank of Azerbaijan (CBA) held 99 currency auctions.
According to CBA’s monetary policy review for 2017, SOFAZ sold $3,597,800,000 in these auctions, down 26.3% from previous year.
During the reporting period, transactions out of auctions amounted to $1,065,000,000.
‘Exchange rate of manat was set on the basis of interbank deals. The exchange rate of USD made up AZN 1.9200 on February 1, 2017 and AZN 1.7000 on December 6, 2017’, the bank said.