At the foreign exchange auction of the Central Bank the US dollar rose sharply again on January 23.
The American currency rate was 1.8559 manat, which is higher than last week’s rate of AZN 1.8311.
Note that after the transition to the new rules of currency auctions, at which commercial banks are only allowed to buy foreign currency, and not to sell it, the dollar has been going up by more than 2 kopecks at each auction.
At the rate of AZN 1.8311 the commercial banks bought USD at AZN 1.83-1.84, and sold it at AZN 1.88-1.89.
After today's auction the commercial banks' rates will also rise. -71D-
Economics
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