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Demand exceeded supply for 10 times at today's currency auction
Finance
- 02 August, 2016
- 13:25
Baku. 2 August. REPORT.AZ/ Foreign currency sale carried out iat today's currency auction of the Central Bank of Azerbaijan (CBA).
SOFAZ put up for sale 50 mln USD, which was 10 times less than demand (500 mln USD). However, only 49 mln. USD of the amount were sold.
Report informs, due to technical reasons not all assets were sold. Because commercial banks are ready to buy 1 dollar for 1.63 AZN. Exchange rate tomorrow on August 3 assumed to be 1.5915 AZN / USD.
Notably, today's currency auction was attended by 29 commercial banks and 98.2% or 49.1 mln USD of them were sold.
Notably, 29 commercial banks took part in the auction as a buyer and 98.2% or 49.1 mln USD were sold.
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