The Central Bank of Azerbaijan issued 200 million USD for currency trading on February 5. The auction was attended by seven banks that applied for the purchase of 18,370,000 US dollars. The orders were satisfied at 100%, according to the CBA.
The last auction on February 3 was attended by 3 banks with applications for 31 million dollars, which were satisfied.
The bidding shows a tendency to decrease banks' demand for foreign currency. For example, on January 27 the auction was attended by 18 banks with applications for the purchase of 67,161,000 dollars, which were satisfied.
Turan’s experts carefully note that the Central Bank managed to bring down the hype in the foreign exchange market, which was caused by the second wave of devaluation of December 21, 2015.
The first devaluation of February 21, 2015 partially provoked transfer of people’s deposits from AZN to a foreign currency. -0-
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