Azerbaijani Economy 23 june — 13:33

Demand for US dollar increased in Azerbaijan

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Today at the foreign exchange auction of the Central Bank of Azerbaijan with the participation of the State Oil Fund, the demand in the amount of 33 million US dollars has completely been satisfied.

This is 6.1 million US dollars, or 22.7% more than at the auction on 18 June.

In March, Azerbaijan saw an increase in demand for foreign currency amid a strong reduction in the price of oil, but since 29 March, demand began to decline gradually.

As previously reported, according to the State Oil Fund, in January-May 2020, the fund sold foreign currency worth $3 billion 637 million at foreign exchange auctions, including $1 billion 928.3 million in March, $531.1 million in April , and $334 million in May.

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