Azerbaijan

Azerbaijan’s USD demand at the central bank’s FX auction rose to USD 76.2 mln from USD 74.8 mln at the prior auction. The central bank fully met this demand at a stable exchange rate of 1.7 manat/USD. In July, USD 826.3 mln was sold at these auctions, a significant increase from USD 405.6 mln in June and USD 558.6 mln in May.