At a regular currency auction held by the Central Bank of Azerbaijan, the dollar fell to 1.5986 manat, the Central Bank reported.
The auction began with 1 USD / 1,6006 AZN.
The auction was also attended by the State Oil Fund of Azerbaijan.
Note that starting from 5 October the Central Bank determines the AZN rate on new rules. So, in the auction days the exchange rate of the national currency is determined by the price set at the time of the last session. At the same time, commercial banks have the right not only to buy but also to sell foreign currency on the auction.
In the days when the auction is not conducted, the manat exchange rate is determined based on the weighted average price set by agreements in the interbank foreign exchange market. ------71D
Economics
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