AZN Strengthened on Currency Auction

On the foreign exchange auction held by the Central Bank of Azerbaijan USD was 1.6006 AZN.

The auction began with the rate of 1USD / 1,6036AZN.

Note that starting from October 5 the Central Bank holds currency auctions under the new rules, according to which commercial banks have the right not only to buy but also to sell currency. The AZN exchange rate at the same time is set, depending on the price, which is determined during the last session.

On days when there is no auction, the rate of AZN is determined, based on the weighted average price set by agreements in the interbank foreign exchange market. -71D-

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