In January the State Oil Fund sold at the foreign exchange auction $285 million.

In January 2017 the State Oil Fund  sold the foreign exchange auction of the Central Bank of Azerbaijan 285 million dollars. In 2016  the State Oil Fund sld at the auctions$4.9 billion,  by 37,5% less than in 2015. According to Turan, in January  nine auctions were held. However, the Central Bank carefully hides the volume of supply and demand on a particular auction. In January, the dollar rose from 1.7707 manat to 1.92 manat.

In addition, the Central Bank often changes its rules, introducing the rules of  two-way trade  of  currency,  and  commercial banks have the right not only to buy, but also to sell foreign currency, and after a short time it cancels.

Another fact that the Central Bank does not adhere to  the  rules is the number of days in a week dedicated to the auctions. For example, in early January, the Central Bank launched a currency auctions three times a week (on Mondays, Wednesdays and Fridays). However, very quickly refused  it, and  passed to the old system - twice a week.

It should be noted that from the information point of view the Central Bank is one of the most closed structures, and the press-service of the Central Bank ignores calls and emails with questions. 71D